Online industrial auctioneer, GraysOnline, has been appointed by advisory firm McGrathNicol to handle the sale of assets held by a key division of the McAleese Group.
In "one of the largest industrial asset disposition programs seen in recent years", GraysOnline said it will be managing the auction and sale of heavy vehicles, light trucks, cranes as well as general office and commercial equipment belonging to McAleese Heavy Haulage & Lifting.
The heavy transport specialist was part of the McAleese group of companies, which – with the exception of Sunshine Refuellers – was placed into voluntary administration on 29 August.
GraysOnline said in structuring the sale, the company has been working directly with administrators McGrathNicol in order to "leverage their expertise in value realisation strategy, financial analysis and transactional execution".
GraysOnline Head of Institutional & Special Situations, Matt Aubrey, explained the sale process would see the Grays national team mobilise rapidly to "assess, value, catalogue, market and ultimately dispose" of the McAleese Heavy Haulage & Lifting portfolio.
“Grays has built a strong track record for being able to execute complex sales straddling national and international borders with minimum ramp-up period. Our appointment is a credit to the reputation our B2B/ industrial team has built in recent years,” Aubrey said, adding the McAleese Heavy Haulage & Lifting sale is expected to commence this month, with the process likely to take around four months.
GraysOnline Head of Mining & Transport, Fenton Healy, commented the sale would be structured as a series of direct sales and auctions depending on the dynamics of each asset category, and he expected healthy buying interest.
“Prices for the heavy transport assets have stabilised following the bottoming of the mining downturn. The market for general transport assets is generally pretty liquid and this part of the portfolio is well suited to a national, online auction,” he said.
“It’s a complex assignment but one which the Grays team of experts nationally is uniquely placed to execute for maximum return to the administrators,” he said.
Interested parties can learn more about the sale at the GraysOnline website.