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Hilco Industrial Expands International Operations in the Middle East

Apr 09, 2013

New Strategic Partnership formed with ValuStrat to co-manage surplus industrial asset disposition projects in the region through a joint venture agreement.

NORTHBROOK, Ill.--(BUSINESS WIRE)--Hilco Industrial, LLC [www.hilcoind.com], doing business in the Middle East Region as Hilco ValuStrat, and ValuStrat [www.valustrat.com] doing business as ValuStrat Consulting and JAJ Consultants in the Middle East, have entered into a joint venture agreement under which the two companies will co-manage surplus industrial asset disposition projects in the United Arab Emirates, The Kingdom of Saudi Arabia, Qatar, Kuwait, Oman, Bahrain, Pakistan, Lebanon, Jordan, Egypt and Iraq. Terms of the joint venture were not announced.

According to Daniel Gray, Managing Director of Hilco Industrial’s operations in the United Kingdom and Europe, “ValuStrat’s significant presence and long-standing relationships in the Middle East, combined with Hilco’s global asset monetization capabilities, provide a solid foundation for the new joint venture to help companies and governments in the region maximize recovery value on machinery, equipment, vehicle fleets, industrial inventory and real estate.”

ValuStrat is headquartered in Dubai. Founded in 1977 as JAJ Engineering, the group provides strategic advisory, management consulting, valuation and asset advisory services to a large and diversified number of corporate clients in the Middle East. Commenting on the new joint venture, Shahid Umerani, Chairman of ValuStrat said, “Owing to our company’s extensive experience in industrial consulting, including valuation and technical due diligence of industrial assets, this new relationship with Hilco ValuStrat will provide a natural and value-added extension to our services by enabling us to actively assist our industrial clients in divestment or acquisition of used plants and machinery through their extensive global disposition network.”

Jeffery Hecktman, Chairman and CEO of Hilco Trading LLC, the parent company for Hilco Industrial LLC said “…this is another example of how Hilco continues to grow and expand our operations around the globe, solidifying our reputation as the world’s pre-eminent authority on helping customers maximize the value of their assets.” In February, Hilco recently announced the additional expansion of operations in the Asia Pacific - Greater China regions with the opening of a new office in Hong Kong to join the previously added offices in Singapore and Thailand.

About Hilco Industrial


Hilco Industrial LLC [www.hilcoind.com] provides industrial asset disposition services, specializing in machinery, equipment and inventory auctions and negotiated sales. It sells the broad range of industrial assets found in manufacturing, wholesale and distribution companies. Hilco Industrial 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. Hilco Industrial began operations in its current form in 2000. It is headquartered in Farmington Hills, Michigan, and is a unit of Chicago-based Hilco Trading LLC, [www.hilcotrading.com] a global provider of tangible and intangible business asset valuation, monetization and advisory services.

Contacts

Hilco Industrial Europe
Daniel Gray
Managing Director
T: +44(0)8453-130-185
M: +44(0)779-986-3877
dgray@hilcoeurope.com
or
ValuStrat
Saad Mehmood Umerani
Senior Associate
97-14-326-2233
saad.mehmood@valustrat.com
or
Hilco Appraisal Europe
Chris Hall
Partner, Director
+44-84-53130-148
chall@hilcoeurope.com
or
Hilco Global
Gary C. Epstein
EVP Chief Marketing Officer
847-418-2712
gepstein@hilcotrading.com
www.hilcotrading.com