Heritage Global Partners to Conduct Its 100th Auction on Behalf of Pfizer March 17th-18th, 2021

Rhea-AI Summary

Heritage Global Partners (HGP) announces its 100th auction for Pfizer equipment assets, enhancing its long-term partnership with the pharmaceutical giant. HGP has supported Pfizer since 2013, facilitating surplus asset sales across over 20 countries. The upcoming Pharmaceutical Sector Sale (PSS) auction will take place from March 17-18, featuring over 450 lots. This collaboration not only aids Pfizer in global asset recovery but also provides life sciences firms opportunities to acquire quality instruments efficiently.

Positive

• Successful partnership with Pfizer since 2013, enhancing HGP's market reputation.
• Conducting 100th auction demonstrates HGP's stability and trust in the asset advisory sector.
• Over 450 lots available in the upcoming auction, indicating strong asset turnover.

Negative

• None.

Heritage Global Partners (“HGP”), a worldwide leader in asset advisory and auction services, and a subsidiary of Heritage Global Inc. (NASDAQ: HGBL) today announced that it will conduct its 100^th auction of equipment assets from Pfizer. HGP has worked with Pfizer in various capacities since 2013, assisting with surplus asset sales, asset valuation, redeployment, and complete facility dispositions. HGP has assisted Pfizer in more than 20 countries over the course of its 100 projects.

Tom Laster, Senior Vice President of HGP stated, “We are excited to announce another monthly auction of surplus equipment assets from Pfizer. Our auctions serve as an efficient and effective channel for Pfizer’s global asset recovery and also serve as a consistent procurement channel for life sciences companies around the world to find quality instruments with immediate delivery. We are extremely proud of our previous work on behalf of Pfizer and are eager to continue to grow our relationship.”

The assets will be offered in HGP’s Pharmaceutical Sector Sale (“PSS”) auction, which will open on March 17^th and close on March 18^th. The sale catalog is currently posted with equipment photos, descriptions and links to the auction registration. The auction currently features over 450 lots for sale.

About HGP

Heritage Global Partners, Inc. Is a subsidiary of Heritage Global Inc. (NASDAQ:HGBL) and one of the world’s largest industrial auction firms, providing asset valuation, acquisition and disposition services.

About Heritage Global Inc.

Heritage Global Inc. (NASDAQ: HGBL) is an asset services company specializing in financial and industrial asset transactions. The company provides a full suite of services including market making, acquisitions, dispositions, valuations and secured lending. Heritage Global focuses on identifying, valuing, acquiring and monetizing underlying tangible and intangible assets across twenty-eight global sectors. The company acts as an adviser, as well as a principal, acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios, intellectual property, and entire business enterprises.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210311005169/en/

FAQ

What is the significance of Heritage Global Partners' 100th auction for Pfizer?

The 100th auction signifies a robust and ongoing partnership between Heritage Global Partners and Pfizer, highlighting HGP's experience in asset advisory.

When will the next auction of Pfizer's equipment assets be held?

The next auction will take place from March 17 to 18, featuring over 450 lots of equipment.

How has Heritage Global Partners assisted Pfizer?

Heritage Global Partners has assisted Pfizer with surplus asset sales, asset valuation, and complete facility dispositions across more than 20 countries since 2013.

What types of assets will be available in the upcoming auction?

The upcoming auction will feature pharmaceutical equipment assets, with a total of over 450 lots available for bidding.

What is Heritage Global Partners' role in the life sciences industry?

Heritage Global Partners provides asset advisory and auction services, facilitating asset recovery and procurement for life sciences companies worldwide.