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Heritage Global Launches Energy and Construction Division

March 21, 2018, 07:25 AM
Filed Under: Industry News

Heritage Global Inc. announced the launch of its newly formed division Heritage Global Energy and Construction (HGEC). With headquarters in Austin, Texas, HGEC provides asset advisory, auction services and monetization solutions for businesses operating in the oil and gas, mining, drilling, solar, construction and rental equipment sectors. The new HGEC division complements and expands Heritage Global’s existing asset valuation, advisory and auction capabilities by adding new service offerings to more effectively market and sell energy and construction clients’ assets across all equipment categories.

In conjunction with the launch, leading sales executive and auction industry veteran Daniel Beck has been appointed Managing Director of HGEC. He will be responsible for overseeing HGEC’s operations, including managing customer relationships, serving existing accounts, developing new business, implementing innovative sales strategies and building high-performing sales teams that deliver results-driven asset monetization solutions to clients. Beck has more than two decades of experience in asset management and sales, with an established record of success developing effective asset monetization strategies on behalf of energy and construction companies as well as other asset intensive businesses.

Ross Dove, Chief Executive Officer of Heritage Global Inc., stated, “Heritage Global remains committed to further expanding our platform of diversified global asset solutions to create new value for our corporate clients, customers, partners and shareholders. Throughout the Company’s history, HGI has deliver best-in-class asset monetization, advisory and auction services to some of the world’s largest energy companies and asset intensive corporations— ranging from acquisitions and dispositions, to complete, multi-phase programs. The formation of Heritage Global Energy and Construction is the next logical step in our plan to strategically expand our product portfolio with new complementary capabilities that serve a broad range of businesses, while growing our leadership across key sectors.”

Kirk Dove, Chief Operating Officer of Heritage Global Inc., added, “Dan is a well-respected leader who has extensive executive experience developing asset monetization solutions that delivered strong results for oil and gas companies, energy corporations and other businesses with asset intensive operations. Throughout his career, Dan has built a solid reputation as a trusted business partner who is committed to the growth and financial success of clients. The executive team looks forward to working with Dan in his new leadership role and we are confident that his results-oriented and entrepreneurial approach to the business will establish Heritage Global Energy and Construction as a leader in asset advisory and auction services for the sector.”

Commenting on his appointment, Beck stated, “The Doves have been innovative pioneers in the industrial auction business for over eight decades and are well-known and highly respected throughout our industry for their worldwide asset advisory expertise across a diverse range of sectors. Heritage Global’s impressive growth, combined with its strong commitment to delivering innovative global asset solutions and exceptional client service, were strong factors in my decision to join the Company. In this leadership role, I will leverage my executive sales experience and deep professional relationships built over my career to grow the operations of Heritage Global Energy and Construction. I look forward to working with Ross, Kirk and the exceptional teams at Heritage Global to expand the capabilities of our subsidiary businesses.”

Prior to joining HGEC, Beck most recently served as VP of Global Sales at Network International where he managed teams responsible for overseeing client accounts representing over $100 million in annual sales. Before that, he served as VP, General Manager and Director of Sales for Ritchie Bros Auctioneers. During his tenure, he developed and implemented a go-to-market strategy for the energy division that led to compound annual growth in segment sales of 373 percent over a four-year period, to $50 million. In addition, he was a key member of Ritchie’s executive leadership team responsible for facilitating the value-building acquisition of AssetNation in 2013. Earlier in his career, Beck served in sales and business development roles for several successful start-up technology and consulting businesses.

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