In August 2019, KPMG were appointed as Administrators of Sphere Healthcare Pty Ltd, an Australian pharmaceutical manufacturer based in Moorebank, NSW, after the company entered into Voluntary Administration. KPMG subsequently engaged Gordon Brothers to provide a plant and equipment valuation to help assist in identifying a buyer for the business, which specializes in the manufacturing of soft and hard gel capsules.
Gordon Brothers provided a detailed plant and equipment valuation consisting of all company owned assets at Sphere’s large pharmaceutical manufacturing facility. This valuation assisted the Administrators in fulfilling their obligations as per the Corporations Act. Ultimately, Gordon Brothers’ valuation enabled KPMG to facilitate a sale of Sphere Healthcare, while maximizing returns for creditors.