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Hilco Global and Prestige Equipment to Conduct Turnkey Sale of Heavy Precision Machining, Metal Fabrication Operation & Real Estate

Feb 20, 2017

Northbrook, IL - February 12, 2017:  Hilco Industrial and Hilco Real Estate Acquisitions (both operating companies within Hilco Global) have joined forces with Prestige Equipment Corp. to offer for immediate turnkey sale the former power generator housing, wind turbine tower, and pressure vessel manufacturing facility and real estate holdings of Mitsubishi Hitachi Power Systems Canada, Ltd. (MHPSC) located in Saskatoon, Saskatchewan, Canada.

The Canadian-based manufacturing facility opened in 1988 (MHPSC) and features 21.67-acres of heavy industrial real estate with over 200,000-sq.ft. of total production space spread across this multi-building campus. MHPSC provided design, manufacturing, inspection, installation, trial operation, sales and preventive maintenance for steam and gas turbine equipment and turbomachinery equipment. In addition, manufacturers in the broader energy, oil and gas, and mining sectors benefited from MHPSC’s ability to machine and fabricate products through a wide range of sizes. Over 20 bridge cranes with capacities up to 100-ton help support this diverse manufacturing capability.

Steve Wolf, CEO of Hilco Industrial said, “this is an impressive offering of large capacity metal fabrication and welding equipment previously used in the production of full pressure vessels and wind towers, as well as a wide variety of material handling, quality assurance, and general plant and production support equipment available for sale”. 

Terry Lashin, President of Prestige Equipment added that “the machinery and equipment being offered includes late model and large capacity CNC horizontal & vertical boring mills, CNC lathes, CNC milling/turning centers, and CNC machining centers – these are high quality machines which feature the latest technological innovations in the machine tool industry. This is an exciting opportunity for anyone looking to expand and purchase a “world class” machining & fabricating facility, strategically located in North America.    

Roberto Perez – President & Managing Partner of Hilco Real Estate Acquisitions indicated that in addition to a turnkey sale of the entire facility, offers for smaller, more targeted manufacturing operations will be considered.  Mr. Perez explained that “the campus has a flexible layout which allows interested parties to select operations to meet their specific production needs.  The current manufacturing campus is made up of 10 distinct parcels of real estate and can be easily sub-divided by building and within each building by the machinery and equipment that supports a specific manufacturing processes”.

For additional information on this unique opportunity, please visit http://www.hilcoind.com or contact:

About Hilco Global:  Hilco Global (www.hilcoglobal.com) is an independent and diversified financial services company and the world’s preeminent authority on maximizing the value of assets for both healthy and distressed companies.  Hilco Global operates as the holding company comprised of over twenty specialized operating companies that work to help businesses understand the value of their assets and then monetize that value.  Hilco Industrial (www.hilcoind.com) and Hilco Real Estate (www.hilcorealestate.com) are two of these operating companies.  Often, Hilco Global acts as an advisor to provide consultative services in all aspects of the asset management process.  Hilco Global has a successful 30-year track record of acting as an advisor, agent, investor and/or principal in any transaction.  Hilco Global is based in Northbrook, Illinois and has 500 professionals operating on five continents.

Prestige Equipment CorporationPrestige Equipment (www.prestigeequipment.com)  is a worldwide leader in the procurement and sales of used metalworking machinery, fabricating equipment and complete manufacturing facilities. Prestige offers an extensive inventory and consignment selection of more than 1000 late-model machine tools at its 150,000-square foot warehouse located in Philadelphia, PA.  Together with its related company Prestige Equipment Auctions, Prestige offers related services including online and on-site auctions, private treaty sales, customized asset management programs, plant turnaround, business sales, as well as financing though its related company Prestige Equipment Capital.  Founded in 1990, Prestige Equipment based in Melville, New York, has a proven track record of providing customized procurement and liquidation solutions to their worldwide manufacturing customer base.