$50 Million in Construction Equipment to Be Sold Immediately
BOSTON, May 31, 2012 /CNW/ - Gordon Brothers Group, a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors, announced today the acquisition of over 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 equipment acquired by Gordon Brothers Group's Commercial & Industrial Division consists of Caterpillar crawler tractors, hydraulic excavators, motor scrapers, motor graders, wheel loaders, articulated end dump trucks, reclaimers and compactors. This asset purchase also included late model Kenworth, Peterbilt and Mack truck tractors, fuel lube, water and service trucks, Ford and Chevrolet pickups, mechanics trucks and heavy capacity low boy equipment transport trailers.
"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," stated Robert Maroney, Co-President, Gordon Brothers Group's Commercial & Industrial Division. "We believe that the solution we created for the company will allow for maximum operating flexibility."
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. Specific equipment inquiries should be directed to: Ronald Liese, Vice President, Gordon Brothers Group's Commercial & Industrial Division, at (801) 209-0414 or [email protected].
About Gordon Brothers Group
Founded in 1903, Gordon Brothers Group (www.gordonbrothers.com) is a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial, and real estate sectors. 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 over $50 billion worth of transactions and appraisals annually.
About T.J. Lambrecht
T.J. Lambrecht Construction, founded in 1947, is a member of the ENR Top 400 Contractors and is one of the largest heavy civil contractors in the country. With offices in Joliet, IL and Euless, Texas they are strategically positioned to respond to projects throughout the United States. Their projects include highways, airports, earthen dams, power plants, intermodal facilities and landfills. T.J. Lambrecht's clients consist of Fortune 500 companies, State Departments of Transportation, government agencies and utilities.
SOURCE Gordon Brothers Group
For further information:
Kristen Nelson, Gordon Brothers Group, +1-617-422-6720, [email protected]