With insolvencies and administrations tipped to increase over the next three years two big names have banded together
Gordon Brothers and Ritchie Bros have created a formal joint venture, the Gordon Brothers & Ritchie Bros Alliance will offer asset advisory services to the insolvency and restructuring market in Australia and South East Asia.
The Alliance will work with administrators, creditors, receivers, bankers and financiers to any businesses in distress.
And in particular, already has a strong track record in the mining, agriculture, construction and transport sectors.
Clients will be offered a global reach and extended leverage the Alliance can offer 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 US.”
“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.
“With the aim 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 theworld’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.”
Behind the 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.
The company’s suite of multichannel sales solutions also includes Ritchie Bros. Asset Solutions, a complete end-to-end asset management and disposition system.