Gordon Brothers Group Expands Industrial Division; Names Robert Maroney to Run Business

Press Release
BOSTON — Seeing greater demand for accurate valuations and asset sales due to the risks associated with peak liquidity levels and increased global outsourcing, Gordon Brothers Group today announced the launch of a significantly expanded industrial division, and named Robert Maroney, most recently Chief Appraisal Officer at Bank of America, to lead the effort.

Maroney, who has been appointed President of the newly-named Gordon Brothers Industrial, has over 25 years of expertise in the valuation of all classes of industrial assets. He will work closely with John Coelho, a key member of senior management, to capitalize on the firm’s experience in the disposition of manufacturing, construction, and industrial equipment and inventories. A number of ASA certified appraisers are also joining Maroney at Gordon Brothers Industrial.

Gordon Brothers Industrial provides appraisal and disposition services to lenders, financial sponsors and corporate clients. It operates globally, serving Europe and Asia in partnership with Gordon Brothers Group’s wholly-owned subsidiary, SHM/Smith Hodgkinson.

"Gordon Brothers Group will now emerge as one of the world’s foremost firms in the appraisal and disposition of industrial assets," stated Mark Schwartz, Chief Executive Officer of Gordon Brothers Group. "This completes our expansion into all asset categories, a strategic move that gives our clients one firm they can rely on for expertise in inventory, real estate, machinery and equipment, accounts receivable and intellectual property."

"With the hiring of Bob Maroney and the expansion of our team, our industrial expertise is now equal to our retail and consumer products expertise," added Michael Frieze, Chairman of Gordon Brothers Group. "Bob’s unparalleled understanding of industrial and commercial asset values, and impeccable standards, will benefit our clients worldwide."

"We will give lenders, manufacturers and industrial firms what they really want -- accurate, reliable information about the value of assets," said Maroney. "Since Gordon Brothers Group buys and sells billions of dollars of inventory, real estate and industrial assets each year, frequently in distressed situations, there is a real, quantifiable basis for determining their true recovery value. Unlike others in the market, we can actively leverage this data in every valuation, ensuring the accuracy and consistency of the resulting appraisal."

About Gordon Brothers Group
Founded in 1903, Gordon Brothers Group(www.gordonbrothers.com)provides global advisory, operating and financial services to companies at times of growth or restructuring. Gordon Brothers Group appraises, acquires and sells a wide range of assets, including inventory, real estate, industrial assets, accounts receivable and intellectual property. Gordon Brothers Group disposes in excess of $10 billion in assets at original value annually and appraises over $30 billion. The firm also provides debt financing and equity capital to consumer products companies, and facilitates mergers and acquisitions with strategic partners. Gordon Brothers Group is headquartered in Boston and maintains 20 offices and satellites worldwide.