Hilco Merchant Resources announces Fixture Finders acquisition and strategic partnership
Hilco Merchant Resources, LLC - (www.hilcomerchantresources.com) announced today that it has acquired all of the inventory and intellectual property assets of Fixture Finders, LLC (www.fixturefinders.com), forming a unique partnership and go to market strategic alliance that creates the largest fixed asset disposition companies in the United States.
The new legal entity will be called Fixture Finders (DE), LLC d/b/a "Fixture Finders" and significantly expands Hilco Merchant Resources' current furniture, fixture, and equipment business while providing an important strategic advantage in today's marketplace offering customers a unique one-stop shop for all fixture related needs. Michael Keefe – CEO of Hilco Merchant Resources indicated that the firm plans to manage the new entity as a strategic alliance between Fixture Finders and Hilco Fixed Asset Recovery - HMR's existing fixed asset disposition division. Keefe said, "This strategic alliance maximizes the significant national retail relationships that Fixture Finders has developed over the years, and delivers seamless synergy with Hilco's robust existing retail client base. Most importantly, this strategic alliance will provide fixture solutions exponentially to retailers nationwide."
The new Hilco-Fixture Finders alliance affords HMR the ability to continue to offer best-in-class inventory and FF &E monetization and advisory services to clients, while at the same time expanding the scope of FF &E related services. Among the services that the firm will provide are the following: (1) Purchasing and selling used Lozier brand gondola shelving; (2) Providing store, distribution center, and warehouse FF &E sale and/or clean-out services; (3) Providing warehouse services, including onsite fixture packing, shipping, refurbishing and storage for future client use; And, (4) Maintaining an extensive inventory of used fixtures such as gondola shelving, racking systems, material handling equipment, and other supermarket, restaurant, and retail store FF &E.
Scott Hoek of Fixture Finders LLC has been named CEO and Principal of the new strategic alliance and Ed Stepp of Hilco Merchant Resources has been named Executive Vice President & Principal of the new entity. Also, Randy Oake, a VP of Field Operations (FF &E) at HMR, will be responsible for maximizing FF &E value on all HMR inventory liquidation deals within the new organization.
Scott Hoek said, "Combining the strength and reputation of the Hilco brand in the retail industry with the depth and breadth of the Fixture Finders offer will enable us to consistently exceed client product and service needs and expectations".
Ed Stepp said, "The new Hilco-Fixture Finders strategic alliance will offer client's fee for service, guaranteed return, and purchase and sale alternative transaction structures designed to meet their needs and maximize the return on the value of their assets." He went on to say that the HMR's inventory liquidation business will continue to provide retail FF &E monetization services to clients as part of the company's existing store closing and going out business merchandise sale services.
About Hilco Merchant Resources: Hilco Merchant Resources (www.hilcomerchantresources.com) provides a wide range of analytical, advisory, asset monetization, and capital investment services to help define and execute a retailer's strategic initiatives. The firm's activities fall into several principal categories including acquisitions; disposition of underperforming stores; retail company or division wind downs; event sales to convert unwanted assets into working capital; interim company, division or store management teams; loss prevention; and, the monetization of furniture, fixtures and equipment which is managed by its Hilco Fixed Asset Recovery division.
Hilco Merchant Resources is part of Northbrook, Illinois based Hilco Global, the world's leading authority on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace. Hilco Global operates twenty specialized business units around the world. For more information please visit: (www.hilcoglobal.com).
About the new Fixture Finders: Fixture Finders (www.fixturefinders.com) is headquartered in Northbrook, Illinois and maintains offices, warehouse, and distribution facilities in Grand Rapids, Michigan, and is one of the nation's largest fixed asset disposition firms, specializing in used Lozier brand gondola shelving and a wide variety of other products including, pallet racks, shopping carts, back room shelving, and more. The firm provides expertise in buying and selling fixtures, furniture and equipment for supermarkets, warehouse facilities with pallet racking, garment racks as well as back room clean outs of Lozier shelving and other garment racks.