NEW YORK, March 28, 2016 /PRNewswire/ -- Tiger Capital Group is rebranding its remarketing services division to better reflect its global role as a broad-based disposition company with particular expertise in monetizing commercial and industrial assets.
Formerly known as Tiger Remarketing Services, the newly rebranded Tiger Commercial & Industrial division continues to see surging interest in its sophisticated, multi-pronged approach to monetizing assets, said Jeff Tanenbaum, President of Tiger Commercial & Industrial.
"Our team of veteran disposition experts takes a holistic approach to leveraging a company's assets. Approaches include a wide range of sales methodologies, including live webcast auctions, sealed-bid offerings and direct negotiations, as well as creative capital structures that can provide companies with short-term funding to bridge times of transition and distress," Tanenbaum said. "This versatility has enabled Tiger Commercial & Industrial to monetize over one billion dollars worth of machinery, equipment, inventories and real and intellectual properties over the past few years alone."
This move also supports Tiger Capital Group's corporate vision of servicing the industrial sector with intelligence, capital and dispositions. Early this year, Tiger Valuation Services hired veteran M&E appraisal professional Bryan Seeley to serve as its Director of M&E Appraisals. "We are steadfast in our mission to be the gold standard in our industry," stated Tiger Capital Group COO Michael McGrail. "To be an industry leader in a multi-faceted organization requires collaboration and shared vision across all platforms."
Tiger Capital Group, which provides asset valuation, advisory and disposition services to a broad range of clients, formalized its existing commercial and industrial disposition services by establishing the Remarketing Services division under Tanenbaum in 2010. To date, the team has conducted hundreds of dispositions involving commercial and heavy industrial concerns of all types and sizes, working on behalf of asset-based lenders, bankruptcy trustees, Fortune 500 companies, estates and other strategic partners, either on a fee basis or by purchasing assets outright.
Noteworthy dispositions from the past year include the company's sale of six sites for American Forest Products, which included both state-of-the-art manufacturing and distribution facilities throughout the U.S. The process included a number of online auctions and sealed-bid offerings, resulting in two facilities sold turnkey. Turnkey sales, in which all assets are sold as one, in cooperation with a real estate sale or lease, are a particular strength of Tiger, Tanenbaum noted. In 2015 alone, the company facilitated five such turnkey transactions, including the AFP facilities, a biomass woodchip-to-fuel production plant for biofuel maker Kior, and two wholesale inventory distribution companies--Papa Automotive and Univita Healthcare.
Other industrial projects included a live webcast auction of assets formerly owned by the now-defunct Mlaskoch Excavating Inc. of Willow River, Minn. The sale included more than 750 pieces of directional drilling equipment, earthmoving equipment and rolling stock. Additionally, Tiger sold commercial printing facilities for two Southern California companies: Pennysaver, a three-facility web printing operation, and Avid Ink, which encompassed both textile printing and sheet-fed printing presses. Tiger sold the Pennysaver and Avid Ink assets via multi-day live webcast auction events.
Commercial projects from 2015 included the sale of more than $50 million of electronic test and measurement equipment for a multinational global telecommunications company, and a number of high-profile sales in the broadcast and professional audio and video sector, including the sale of excess broadcast, presentation, event and digital cinema gear from VER (Video Equipment Rentals), a major rental company with locations ranging from California to British Columbia to Frankfort, Germany, as well as a sizeable purchase and sale of broadcast equipment direct from Sony.
"Over the course of 2015, our auctions reached buyers well beyond North America, including the United Kingdom, Finland, China and India," said Tiger Capital Group Managing Member Daniel Kane. "We have been very pleased with the division's growth and are looking forward to accomplishing even more in the commercial and industrial space in the years ahead."
About Tiger Group
Tiger Capital Group provides asset valuation, advisory and disposition services to a broad range of retail, wholesale, and industrial clients. With over 40 years of experience and significant financial backing, Tiger offers a uniquely nimble combination of expertise, innovation and financial resources to drive results. Tiger's seasoned professionals help clients identify the underlying value of assets, monitor asset risk factors and, when needed, provide capital or convert assets to capital quickly and decisively. Tiger's collaborative, straight-forward approach is the foundation for its many long-term 'partner' relationships and decades of success. Tiger maintains domestic offices in New York, Los Angeles, Boston, Chicago, and San Francisco, and international offices in Sydney, Perth, and Brisbane, Australia. To learn more about Tiger, please visit www.TigerGroup.com
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SOURCE Tiger Capital Group