Gordon Brothers Group, a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors, has acquired more than 375 pieces of late model, heavy construction equipment formerly owned by T.J. Lambrecht, one of the largest heavy civil contractors in the United States. The company will rent back some of the equipment on a short-term basis to allow T.J. Lambrecht to finalize several projects.
The equipment acquired consists of Caterpillar crawler tractors, hydraulic excavators, motor scrapers, motor graders, wheel loaders, articulated end dump trucks, reclaimers and compactors.
"Gordon Brothers Commercial & Industrial approached us with a unique opportunity to sell our excess equipment while simultaneously offering short-term rental of key pieces needed to complete several construction projects still in process," said Dan Klingberg, president of T.J. Lambrecht. "Gordon Brothers was the perfect partner given their ability to deliver capital at close while simultaneously offering a creative rental solution that allowed our company maximum flexibility."
"We are pleased that the financial strength of Gordon Brothers Commercial & Industrial allowed us to purchase this package of extremely high-quality construction equipment that was considered excess by the company," said Robert Maroney, co-president, Gordon Brothers Group's Commercial & Industrial Division.
Gordon Brothers Group's Commercial & Industrial Division will immediately commence negotiated sales of all construction equipment purchased. For a listing of all equipment available, visit www.gordonbrothers.com.
Gordon Brothers Group maximizes value for both healthy and distressed companies by purchasing or selling all categories of assets, appraising assets, providing debt financing, making private equity investments, and operating businesses for extended periods. Gordon Brothers Group conducts more than $50 billion worth of transactions and appraisals annually.
