HILCO INDUSTRIAL AND CBI CREATE INDUSTRIAL ASSET MANAGEMENT AND DISPOSITION PARTNERSHIP IN EUROPE
Joint Venture Positioned To Help Companies Maximise Value Recovery On Underperforming and Surplus Machinery, Equipment, Vehicles and Inventory.
Hilco Industrial Limited (www.hilcoind.com ) and CBI (Core Business Industries) B.V. (www.cbiworld.com ) today announced a joint venture agreement under which the two companies will collaborate on industrial asset disposition projects throughout Europe. Terms of the joint venture were not disclosed.
Daniel Gray, Managing Director of Hilco Industrial operations in the United Kingdom and Europe, made the announcement in London on behalf of the joint venture. Mr. Gray said, “CBI and Hilco, in combination, afford European companies and their advisors access to unparalleled industrial asset knowledge and unequalled asset disposition capabilities on a global scale.” He added, “CBI is resource-rich in Europe. The partnership with Hilco ensures that every European-based client will receive highly customised project management services from senior level professionals.”
Robert Bouland, Chief Executive Officer for Amsterdam-headquartered CBI, said, “We have in recent years worked with Hilco Industrial on several successful asset sales, including transactions for Xenterio and Ford Bordeaux. We have proven to the marketplace and ourselves that together we can deliver outstanding customer service and financial results beyond expectation. A more broadly-based partnership makes perfect sense. We are enthusiastic about working more closely with the Hilco Industrial team in Europe.”
Hilco Industrial is a unit of Hilco Trading, LLC, an independent financial services company with international headquarters in the United States. Commenting on several recent joint venture agreements made by Hilco recently, Jeffery B. Hecktman, Chairman and CEO of Hilco Trading, LLC said, “Hilco now does business in over 60 countries around the world. We will continue to expand our global presence through our own organic growth and through partnerships with best-in-class firms such as CBI.” In February, 2013, Hilco announced the opening of an office in Hong Kong to further serve the Asia Pacific - Greater China region, which follows the expansion of added offices in Singapore and Thailand. Hilco also announced a similar joint venture partnership earlier this year with United Arab Emirates-based JAJ – ValuStrat to serve clients throughout the Middle East.
About Hilco Industrial
Hilco Industrial Limited is headquartered in London, United Kingdom and provides industrial asset disposition services, specialising in machinery, equipment and inventory auctions and negotiated sales. It opened its first office in 2006 and is a unit of Hilco Industrial LLC, [www.hilcoind.com], a division of Chicago-based Hilco Trading LLC, [www.hilcotrading.com] a global provider of tangible and intangible business asset valuation, monetisation and advisory services. Hilco Industrial sells the broad range of industrial assets found in manufacturing, wholesale and distribution companies. It performs dispositions through on-site, online and combination “webcast” auction sale events as well as negotiated (private treaty) sales. Hilco Industrial has capital to put at risk and often acquires assets or provides guarantees. It also provides asset disposition services on a fee or commission basis.
The company was started in 1970 by Robert Bouland selling machine tools around the world. Having grown significantly, in the company acquired a 50% stake in P.M.C. Inc (Houston, TX USA), one of the largest machine tool dealers in the world at that time. By 1985 the company was re-named Fairfield Industries and began acquiring assets from defunct companies throughout Europe, UK and in China. In 2000, Fairfield Auctions was sold to DoveBid and Mr. Bouland assumed the role of President for DoveBid Europe. In 2003, the company began operating independently again under the name Core Business Industries B.V. or CBI.
Gary C. Epstein
EVP Chief Marketing Officer
T: 847 418 2712
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Northbrook, Illinois USA 60062
We will keep you informed about our projects. We will NOT provide any details to third parties.