Gordon Brothers sold assets of Traffic Control Services, taking on significant capital risk in acquiring the assets outright and efficiently carrying out an orderly disposition process.
By The Numbers
Gordon Brothers purchased and sold the assets of bankrupt Traffic Control Services, Inc. (“TCS”), a company with an extensive inventory of shoring equipment, rolling stock, message boards and signage. The company operated out of Las Vegas while most of its assets were located throughout California.
Our experience in the industrial space allowed us to bid aggressively alongside our partners and implement a successful disposition of the company’s assets. We were able to pay the bankrupt estate approximately $1 million over the original stalking horse bid TCS had received, significantly improving the estate’s recovery.
Over the next three months, we conducted an orderly liquidation of the assets followed by a “clean up” auction. Some equipment yards were sold in their entirety to a number of strategic buyers looking to expand their market share and base of operations.