Heritage Global Partners (“HGP”), and its parent company Counsel RB Capital
CRBN, in conjunction with Maynards Industries Ltd, New Mill Capital
LLC, and The Branford Group, today announced that they will jointly manage a
series of sales for the complete turnkey wireless network infrastructure and
related capital assets of Powerwave Technologies Inc. PWAV
(“Powerwave”).
Powerwave designs, manufactures, and markets a comprehensive suite of wireless
technologies and is a global supplier of end-to-end wireless solutions for
wireless communications networks. Together, the companies acquired Powerwave's
assets following its Chapter 11 bankruptcy (Case #13-10134) at an original
asset acquisition cost of approximately $100 million. A series of global
online auctions will be hosted and managed by Heritage, complete details and
event dates to follow at www.hgpauction.com.
“Together with our valued partners we will be conducting a series of sales of
Powerwave's state-of-the-industry wireless network and capital assets. The
upcoming auctions include an unprecedented offering of capital assets and will
be the year's largest sale of Test and Measurement equipment, by far. We
believe our combined global presence and familiarity with the marketplace,
paired with our expert industry knowledge, will attract significant interest
from worldwide buyers,” stated Ross Dove, Managing Partner of Heritage Global
Partners.
“We are anticipating very strong demand from buyers worldwide as the upcoming
sales represent a unique opportunity to acquire a wealth of high quality
assets, including base station antennas, tower mounted amplifiers (TMA),
filters, furnishings, tooling, wireless inventory and equipment, and much
more. We look forward to working together to maximize the ultimate value of
Powerwave's assets,” stated Matthew DelGuidice, VP of Maynards US Operations.
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