Gordon Brothers Appointed by Joint Administrators of Bibby Hydromap Ltd
Date April 30, 2020
Gordon Brothers, the global advisory, restructuring, and investment firm, has been instructed by KPMG to market for sale the modern and fully equipped marine survey vessel fleet of Bibby Hydromap Ltd, together with the extensive inventory of marine survey and test equipment and associated assets.
Marine survey specialist Bibby Hydromap Ltd was placed into Administration in April 2020 with Andrew Stone and Rick Harrison of KPMG appointed Joint Administrators.
Gordon Brothers are partnering with Offshore Shipbrokers Ltd (OSL), who are acting as exclusive vessel brokers for the vessels ‘Bibby Athena’, ‘Bibby Tethra’, ‘Proteus’, and ‘Pulsar.’
Formerly known as Osiris Projects, the company was established in 1997 and provide hydrographic, geophysical, UXO, ROV, and asset inspection surveys.
Gordon Brothers will be supervising the disposition of all non-deployed survey equipment together with warehouse and office fixtures and fittings, and test equipment, all of which is currently located at the company’s headquarters in Bromborough, Wirral, UK.
Mark Lord, Director at Gordon Brothers commented, “We are delighted that Gordon Brothers has been appointed by the Joint Administrators of Bibby Hydromap Ltd, to provide them with both asset valuation and disposition advice on this significant assignment. It is very rare that marine survey assets of this quality come to market and given the high level of interest currently being expressed, we anticipate an extremely positive outcome for the Administration.”
For more information on the assets for sale, please contact Mark Lord at [email protected].
About Gordon Brothers
Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, operating executives, advisors, and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four service areas: valuations, dispositions, operations, and investments. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial, and industrial sectors to put assets to their highest and best use. Gordon Brothers conducts more than $70 billion worth of dispositions and appraisals annually. Gordon Brothers is headquartered in Boston with 25 offices across five continents.