SYDNEY, April 22, 2021 /CNW/ - Gordon Brothers and
Ritchie Bros. have created a formal
joint venture, the Gordon Brothers & Ritchie Bros. Alliance. The Alliance provides
end-to-end asset advisory and asset remarketing services to the
insolvency and restructuring market in Australia and South
East Asia.
The new Alliance will generate superior outcomes
for clients, ranging from administrators, creditors,
receivers, bankers, and financiers to the businesses in
distress. The Alliance already has a strong track record in the
mining, agriculture, construction, and transport sectors.
Clients will benefit from global reach and leverage of the Alliance
and the ability to provide cash-backed, guaranteed
outcomes.
"By entering into a strategic partnership, we're able
to present the market with the best end-to-end industrial asset
advisory and realisation solution for distressed
businesses, particularly those operating in the mining,
agriculture, construction, and transport sectors," said
Matt Aubrey, Managing Director at
Gordon Brothers. "This is a formal joint venture between two market
leading global companies that will raise the bar in asset advisory
and realisation, delivering a valuable service for clients dealing
with difficult and complex circumstances."
"The two companies bring unrivalled expertise and experience in
their respective fields," said Finlay
Massey, Sales Director APAC, Ritchie
Bros. "While the Alliance is launching in Australia and South
East Asia as a formal joint venture, the benefits of
the relationship are already tried and tested. Gordon Brothers and
Ritchie Bros. have, over the past
three years, worked together to realise over AU$200 million
worth of assets in the U.S."
"This is not just an exercise in helping restructuring and
insolvency businesses recoup losses for investors and creditors,
this is a partnership that will help businesses going through a
restructuring or insolvency process to achieve the best possible
outcome from asset sales to enable them to course correct," Mr.
Aubrey said. "Achieving the highest price can make all the
difference in the recovery of a business."
Backed by the world's largest database of buyers and
sellers of industrial equipment and its 24/7 digital
marketplace, the Alliance is confident its global expertise and
scale will ensure the successful valuation and sale of assets for
businesses and their restructuring and insolvency partners.
"We deploy advanced technology, data-led sales opportunities and
the world's largest network for realising industrial assets to
secure the best possible outcome for clients," said Mr.
Andrew Cotton, Head of Alliance,
Gordon Brothers & Ritchie Bros.
Alliance. "With decades of experience and expertise, we're a safe
choice for any distressed business, particularly those in the
mining, agriculture, construction and transport space."
About Gordon Brothers & Ritchie
Bros. Alliance
- The Gordon Brothers and Ritchie
Bros. Alliance is a joint venture between two market leaders
in their field with deep understanding of distressed businesses and
assets, and a strong track record in the mining, agriculture,
construction and transport sectors.
- The Alliance provides an end-to-end asset advisory and
realisation solution for industrial assets, heavy equipment and
trucks. Clients benefit from combined expertise, a global network
and a seamless delivery throughout the process, with a central
point of contact – resulting in an exceptional experience for
clients.
- The Alliance combines a deep knowledge of distressed situations
and asset valuation with the benefits of a worldwide remarketing
network. Its global reach and advanced technology enable the
business to provide the best industrial asset realisation service
in the market, standing behind their value opinions with cash
backed guaranteed outcomes.
- Clients benefit from access to the world's largest database for
industrial asset realisation, world leading multichannel selling
platforms, and 40 auction sites worldwide.
About Gordon Brothers
- Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped
lenders, operating executives, advisors and investors move forward
through change.
- The firm brings a powerful combination of expertise and capital
to clients, developing customized solutions on an integrated or
standalone basis across four service areas: valuations,
dispositions, operations and investments. Whether to fuel growth or
facilitate strategic consolidation, Gordon Brothers partners with
companies in the retail, commercial and industrial sectors to put
assets to their highest and best use.
- Gordon Brothers conducts more than $70
billion worth of dispositions and appraisals annually.
Gordon Brothers is headquartered in Boston with over 30 offices across five
continents.
Ritchie Bros.
- Established in 1958, Ritchie
Bros. (NYSE and TSX: RBA) is a global asset management and
disposition company, offering customers end-to-end solutions for
buying and selling used heavy equipment, trucks and other
assets.
- Operating in several sectors, including construction,
transportation, agriculture, energy, oil and gas, mining, and
forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest
industrial auctioneer offers live auction events with online
bidding; IronPlanet, an online marketplace with featured weekly
auctions and providing the exclusive IronClad Assurance(R)
equipment condition certification; Marketplace-E, a controlled
marketplace offering multiple price and timing options; Mascus, a
leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately
negotiated sales.
- The company's suite of multichannel sales solutions also
includes Ritchie Bros. Asset
Solutions, a complete end-to-end asset management and disposition
system. Ritchie Bros. also offers
sector-specific solutions including GovPlanet, TruckPlanet, and
Kruse Energy, plus equipment financing and leasing through
Ritchie Bros. Financial
Services
View original
content:http://www.prnewswire.com/news-releases/gordon-brothers--ritchie-bros-form-alliance-to-assist-australian-and-south-east-asian-insolvency-and-restructuring-market-301275369.html
SOURCE Ritchie Bros.