Gordon Brothers Group announced it executed a definitive agreement with Wilbanks Energy Logistics and its affiliated entities to acquire the company’s entire fleet of trucking and heavy haul equipment and commence its immediate orderly sale as part of a joint venture with Hilco Industrial.

Founded over 25 years ago, 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, Heavy Haul Trailers and others. 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,” said 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.”