Hilco Global APAC and Gordon Brothers partner to disperse late model CAT mining fleet in South Africa
Asset valuation and disposal company Hilco Global APAC and Gordon Brothers, a global advisory, investment and restructuring firm, have partnered to disperse a fleet of late model Caterpillar 100T-class mobile mining assets located in South Africa.
The partnership between the two US headquartered firms offers 25 late-model, low-hour Caterpillar mining machines for sale. The fleet includes D10T and D9T tracked dozers, a 992K wheeled loader, an 824K wheeled dozer, and 777E rigid haul dump trucks.
“We’re very excited about this collaboration as this is the first time both companies have partnered together in South Africa,” said Fenton Healy, Managing Director at Gordon Brothers. “Hilco and Gordon Brothers have had a good track record working together in North America to bring large fleets to market, so it made sense to leverage our combined capital to navigating our way through a new geography,” he added.
The fleet is primarily comprised of 2017-year models in good condition that had been repossessed. Hilco APAC and Gordon Brothers were assisted in the acquisition by DLA Piper in Johannesburg.
“Partnering with Gordon Brothers in Australia was ideal. The combination of both our skillsets ensured the best possible outcome for our customer,” said Adam Scharer, CEO of Hilco Global APAC. He added, “The deal combines our respective abilities to deploy capital alongside our combined global reach to ensure the project is successful for all stakeholders.”
Hilco APAC and Gordon Brothers in Australia are confident that prevailing conditions in key market segments will create a healthy demand for the sale of the mobile mining assets. Despite the impacts of the current pandemic, the secondary market for quality used mining and construction equipment remains strong. Initial interest has been encouraging, and both firms look forward to delivering a great result.