AUSTIN, Texas & SAN DIEGO--(BUSINESS WIRE)--Heritage Global Inc. (OTCQB: HGBL, CSE: HGP) (“Heritage Global,” “HGI” or the “Company”), a value-driven, innovative leader in corporate and financial asset liquidation transactions, valuations and advisory services, today announced the launch of its newly formed division Heritage Global Energy and Construction (“HGEC”). Headquartered in Austin, Texas, HGEC provides asset advisory, auction services and monetization solutions for businesses operating in the oil and gas, mining, drilling, solar, construction and rental equipment sectors. The new HGEC division complements and expands Heritage Global’s existing asset valuation, advisory, and auction capabilities by adding new service offerings to more effectively market and sell energy and construction clients’ assets across all equipment categories.
In conjunction with the launch, leading sales executive and auction industry veteran Daniel Beck has been appointed Managing Director of Heritage Global Energy and Construction. In this role, Daniel will be responsible for overseeing HGEC’s operations, including managing customer relationships, serving existing accounts, developing new business, implementing innovative sales strategies and building high-performing sales teams that deliver results-driven asset monetization solutions to clients. Daniel has over two decades of experience in asset management and sales, with an established record of success developing effective asset monetization strategies on behalf of energy and construction companies as well as other asset intensive businesses.
Ross Dove, Chief Executive Officer of Heritage Global Inc. stated, “Heritage Global remains committed to further expanding our platform of diversified global asset solutions to create new value for our corporate clients, customers, partners and shareholders. Throughout the Company’s history, HGI has deliver best-in-class asset monetization, advisory and auction services to some of the world’s largest energy companies and asset intensive corporations— ranging from acquisitions and dispositions, to complete, multi-phase programs. The formation of Heritage Global Energy and Construction is the next logical step in our plan to strategically expand our product portfolio with new complementary capabilities that serve a broad range of businesses, while growing our leadership across key sectors.”
Kirk Dove, Chief Operating Officer of Heritage Global Inc. added, “Dan is a well-respected leader who has extensive executive experience developing asset monetization solutions that delivered strong results for oil and gas companies, energy corporations and other businesses with asset intensive operations. Throughout his career, Dan has built a solid reputation as a trusted business partner who is committed to the growth and financial success of clients. The executive team looks forward to working with Dan in his new leadership role and we are confident that his results-oriented and entrepreneurial approach to the business will establish Heritage Global Energy and Construction as a leader in asset advisory and auction services for the sector.”
Commenting on his appointment, Daniel Beck stated, “The Doves have been innovative pioneers in the industrial auction business for over eight decades and are well-known and highly respected throughout our industry for their worldwide asset advisory expertise across a diverse range of sectors. Heritage Global’s impressive growth, combined with its strong commitment to delivering innovative global asset solutions and exceptional client service, were strong factors in my decision to join the Company. In this leadership role, I will leverage my executive sales experience and deep professional relationships built over my career to grow the operations of Heritage Global Energy and Construction. I look forward to working with Ross, Kirk and the exceptional teams at Heritage Global to expand the capabilities of our subsidiary businesses.”
Prior to joining HGEC, Mr. Beck most recently served as VP of Global Sales at Network International where he managed teams responsible for overseeing client accounts representing over $100 million in annual sales. Before that, Mr. Beck served as VP, General Manager and Director of Sales for Ritchie Bros Auctioneers. During his tenure, he developed and implemented a go-to-market strategy for the energy division that led to compound annual growth in segment sales of 373% over a four year period, to $50 million. In addition, Mr. Beck was a key member of Ritchie’s executive leadership team responsible for facilitating the value-building acquisition of AssetNation in 2013. Earlier in his career, Mr. Beck served in sales and business development roles for several successful start-up technology and consulting businesses.
Daniel Beck, Managing Director of Heritage Global Energy and Construction, may be reached at 206-660-1853 or via e-mail at dbeck@hginc.com.
About Heritage Global Inc. (www.heritageglobalinc.com)
Heritage Global Inc. (OTCQB: HGBL, CSE: HGP) is a value-driven, innovative leader in corporate and financial asset liquidation transactions, valuations and advisory services. Heritage Global focuses on identifying, valuing, acquiring and monetizing underlying tangible and intangible assets in twenty-eight global manufacturing and technology sectors. Heritage Global acts as an adviser, as well as a principal, acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios, intellectual property, and entire business enterprises.
Forward-Looking Statements
This communication includes forward-looking statements based on our current expectations and projections about future events. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this communication are based on knowledge of the environment in which the Company currently operates and are subject to change based on various important factors, including variability in magnitude and timing of asset liquidation transactions, the impact of changes in the U.S. national and global economies, interest rate and foreign exchange rate sensitivity, as well as other factors beyond the Company's control. Unless required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. For more details on factors that could affect these expectations, please see our filings with the Securities and Exchange Commission.
