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Gordon Brothers, Hilco to Sell Wilbanks Energy Logistics Equipment

January 11, 2016, 07:31 AM
Filed Under: Industry News

Gordon Brothers Group, a global advisory, restructuring and investment firm specializing in the industrial, consumer products and retail sectors, announced today that it has executed a definitive agreement with Wilbanks Energy Logistics LLC and its affiliated entities to acquire the company’s entire fleet of trucking and heavy haul equipment and commence it’s immediate orderly sale as part of a joint venture with Hilco Industrial.

Wilbanks operated as a full-service energy logistics company until being placed into receivership due to adverse market conditions affecting the oil and gas industry. The company served the Permian Basin with full-service yards located in Artesia, NM; Carlsbad, NM; Hobbs, NM; and Gardendale, TX. The company’s fleet of over 400 pieces of equipment includes Winch Trucks, Gin Trucks, Bed Trucks, Twin-Steer Tandem Trucks, Heavy Haul Trailers, Wheel Loaders, Forklifts, Telehandlers, Manlifts, Service Trucks, Vehicles, Crawler Cranes and Hydraulic Truck Cranes. The late model Wilbanks equipment received the 2014 Fleet of the Year Award from Go by Truck in the vocational category.

“We are pleased to bring this package of late model equipment to the marketplace. While the fleet previously served oilfield uses, it has many other industrial applications,” stated Robert Maroney, President of Gordon Brothers Group’s Commercial & Industrial Division. “We have already seen a great amount of interest from strategic buyers and expect this to be a very fast private treaty sale.”

Founded over 25 years ago, Wilbanks Energy Logistics operated as a leading rig moving and logistics company serving the oil & gas industry until being placed into receivership. The company operated out of four locations across the southwest in New Mexico and Texas. Wilbanks Energy Logistics boasted the material resources to accomplish even the most technically demanding and logistically daunting jobs utilizing its expert staff and cutting edge technology.

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