Asset manager Ritchie Bros. and advisory and restructuring company Gordon Brothers received bankruptcy court approval to purchase the assets of pipeline builder Welded Construction. The two companies will work together to sell the Welded assets through multiple channels.

“We are excited to bring to market this late model and well-maintained fleet of pipeline equipment,” said Zac Dalton, Director, Strategic Accounts, Ritchie Bros. “Early market interest for this equipment is already strong and provides us the opportunity to provide our customers with this highly sought-after equipment fleet through our various marketplace channels.”

For more than 50 years, Welded Construction delivered pipeline construction services across North America, building up a world-class fleet that included a wide range of pipelayers (including Caterpillar PL87, PL83, 72H, 594, 572 and 583 units), as well as pipeline support equipment and general construction assets (including Caterpillar D8T, D7R and D6T units).

“We are pleased to offer the Welded equipment for immediate sale to the marketplace,” said Robert Himmel, senior managing director of Gordon Brothers. “This is an incredible opportunity for the pipeline industry given the outstanding condition of the assets and long-standing reputation of the Welded Construction fleet.”

Anyone interested in the purchase of this equipment can find additional detail through Ritchie Bros.’ IronPlanet website or through the Gordon Brothers’ website.
Tags: