Hilco Global Appraisal, Acquisition, and Liquidation News

Read about Hilco Global’s latest business transactions, executive leadership changes, and other company news.

Hilco Global and Colbeck Acquire Assets of Leading Truck Asset Financing and Fleet Management Company – 19th Capital Group

May 12, 2020, 14:07 PM by Mike Ermitage

Hilco team will operate the asset financing and fleet management company as it restructures and prepares the truck leasing and fleet services business for post pandemic success.

Hilco Global, the world's premier authority on asset valuation, monetization, and advisory solutions, announced today that H19 Capital, LLC (a joint venture between Hilco Global and NY based Colbeck Capital Management) acquired substantially all of the assets of the transportation and truck leasing company, 19th Capital, in a multi-million dollar transaction which closed on May 1, 2020.

19th Capital is headquartered in Indianapolis, Indiana and provided asset financing for the North American transportation industry, including truck leasing, and fleet management services.  In the private sale transaction completed on May 1, 2020, the new H19 Capital purchased thousands of semi-trucks and trailers, all trucking service and support machinery & equipment, all intellectual property, and a substantial portfolio of accounts receivable, including over 600 existing truck leases.  Additionally, the deal includes taking over the lease of two truck yards and the  136,000 square foot facility located at 9702 E. 30th St. in Indianapolis, IN with its engine maintenance, detailing, body and paint shops with a total combined yard capacity to store over 1700 trucks. 

In an all company meeting held in Indianapolis on May 1, Hilco Global executives announced that they plan to continue to operate the transportation and truck leasing company, and will continue selling and servicing trucks and managing the current lease portfolio while restructuring the operation to be more efficient as a going concern. During the meeting executives indicated that it would save at least 55 jobs that otherwise would have been eliminated by the end of the year.

Steve Tanzi, President of Hilco Performance Solutions said, “The acquisition of 19th Capital demonstrates the unique capabilities of the Hilco Global platform.  The Hilco Valuation Services team was able to properly value the business so that we could develop an appropriate performance improvement and restructuring plan to continue to operate the company.”  Tanzi added, “At the same time, Hilco Receivables and Hilco Commercial & Industrial units will begin monetizing all underperforming machinery & equipment, Account Receivables, and current trucking inventory”.  

Jason Colodne, Managing Partner of Colbeck noted, “Colbeck is proud to partner with Hilco on the acquisition of 19th Capital.  We value our long-standing relationship with Hilco and believe they are among the best in the business of valuing and monetizing assets.”

Leading the new going concern in Indianapolis will be Steven Tanzi, President of Hilco Performance Solutions who will serve as Chief Executive Officer; Bryan Courcier Senior Vice President Hilco Valuation Services will serve as Chief Operating Officer; and Buddy Beaman Executive Vice President at Hilco Receivables will serve as Chief Commercial Officer. 

Bryan Courcier said, “Hilco has been active in the transportation sector for many years and we believe this transaction provides us with an ideal platform to monetize additional transportation and trucking assets going forward. We look forward to restructuring and expanding operations in Indianapolis” 

Hilco Industrial Acquisition In Media

AP foodonline Utillaje

AI Automotive Industries

 Ai Automotive AI Automotive Industries     AI Automotive Industries    AI Automotive Industries 

Manufacturing Today India

Manufacturing Today IndiaManufacturing Today India