Facilitated the wind-down of this safety provider to the oilfield services sector through the outright purchase and subsequent sale of its assets
By The Numbers
Generous fee-based remuneration with significant success-based bonus
Enersafe was a Texas-based safety provider to the oilfield services sector. Following prolonged market strain in the oil and gas industry, the company made the strategic decision to wind down operations. As part of a joint venture, Gordon Brothers stepped in and acquired the assets outright from the Company.
The assets consisted of over 1,000 pieces of service and mobile equipment, including forklifts; truck tractors; trailers; and pickups, as well as site service and retail inventory, including flare stacks and combusters; fire protections suits; safety masks; eyewash, shower and lighting systems; monitoring and calibration systems; work clothing, footwear, and gear; and Yeti and Pelican cooler and protective cases.
Over the course of the following months, our team undertook two pre-sale events to negotiate the orderly sale of the equipment. These sales were followed by a two-day live auction to sell the remaining equipment and inventory.
The outright purchase of the assets provided Enersafe and its Lender a seamless solution to complete its wind-down. The subsequent asset sales helped find new uses for a variety of inventory and equipment assets.