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Tiger Group, Others Conducting Sale of ClearEdge Power Assets

August 27, 2014, 07:23 AM
Filed Under: Industry News
Related: Tiger Group

Tiger Group’s Remarketing Services Division, Hackman Capital and CA Global Partners will conduct a live webcast auction on September 9 at 10:30 a.m. (PT) for laboratory, testing, machine shop and warehouse/support equipment; inventory and parts; and other assets from a Hillsboro building formerly operated by fuel cell manufacturer ClearEdge Power, Inc.

The office/research and development/warehouse facility was shuttered following the July 2014 acquisition of ClearEdge by Korea-based Doosan Corp., which subsequently launched the Connecticut-headquartered Doosan Fuel Cell America, Inc. ClearEdge had filed for Chapter 11 bankruptcy protection in May 2014.

Bidding in the online-only sale of the facility’s assets—which also includes office furnishings, networking, computer, and audio/visual equipment—will open September 2 at, and will close in rapid succession, live auction style, on September 9 at 10:30 a.m. (PT). The assets will be available for inspection at the company’s facility located at 7205 NW Evergreen Parkway, Suite 100, in Hillsboro on September 8, from 10:00 a.m. to 4:00 p.m. (PT).

“Doosan’s desire to monetize the Hillsboro assets acquired as a result of the company’s purchase of ClearEdge provides a tremendous opportunity for regional businesses,” said Jeff Tanenbaum, president of Tiger Remarketing Services.  “The parts and components inventory, as well as the diverse selection of machinery, warehouse equipment, office technology and furnishings, test equipment and related items are ideal for a broad range of businesses.” 

Tanenbaum added: “Our group was able to dispatch teams immediately and provide a guaranteed financial return and completion of the project within Doosan’s aggressive timeline.”

Lab and test equipment being auctioned from manufacturers such as Agilent, NHR, Tektronix, Mokon, Waveform and RAE, includes data logger and acquisition switches, ,oscilloscopes, master electronic load banks, gas chromatographs, multi-gas combustion analyzers, monitors, signal generators, lab furnaces, and oil heaters.

The inventory of parts and supplies, with an original cost exceeding $30 million, comes from such manufacturers as Grundfos, AliCat Scientific, Watson McDaniel, Xantrex, Hedland, TDK-Lambda and National Instruments. Available items include large quantities of new  pumps, liquid drainers, inverters/chargers, flow meters, power supplies, controllers, isothermal connectors, thermocouple input modules, and other electronics, as well as stainless steel and copper Swagelok® fittings, valves, pipe and tube.  “The parts and supplies inventory represents a significant offering of desirable consumables for fuel cell manufacturers and other industries,” said Tanenbaum.

Tiger Group provides asset valuation, advisory and disposition services to a broad range of retail, wholesale, and industrial clients. With over 40 years of experience and significant financial backing, Tiger offers a uniquely nimble combination of expertise, innovation and financial resources to drive results. Tiger’s seasoned professionals help clients identify the underlying value of assets, monitor asset risk factors and, when needed, provide capital or convert assets to capital quickly and decisively. Tiger’s collaborative, straight-forward approach is the foundation for its many long-term ‘partner’ relationships and decades of success. Tiger operates main offices in Boston, Los Angeles and New York.

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