GraysOnline, Australia’s largest online industrial auctioneer, has been appointed by advisory firm McGrathNicol to handle the sale of assets held by a key division of the McAleese Group.
In one of the largest industrial asset disposition programs seen in recent years, GraysOnline has been tapped to manage the auction and sale of heavy vehicles and light trucks, cranes and general office and commercial equipment belonging to McAleese Heavy Haulage & Lifting. The McAleese group of companies (with the exception of Sunshine Refuellers Pty. Ltd.) was placed into voluntary administration on 29 August this year.
GraysOnline’s appointment to handle the complex sale was based on its deep expertise in the transport category, extensive national footprint and channels into international pools of buyers, and proven ability to execute the sale quickly. In structuring the sale program, GraysOnline is working directly with administrators from McGrathNicol, leveraging their expertise in value realisation strategy, financial analysis and transactional execution.
GraysOnline Head of Institutional & Special Situations, Matt Aubrey, said the sale process would see the Grays national team mobilise rapidly to assess, value, catalogue, market and ultimately dispose of the McAleese Heavy Haulage & Lifting portfolio.
“Grays has built a strong track record for being able to execute complex sales straddling national and international borders with minimum ramp-up period. Our appointment is a credit to the reputation our B2B/industrial team has built in recent years,”
-- Mr. Aubrey.
“GraysOnline’s international network will have an important role to play in this sale. Over recent years we have a seen a consistent trend toward cross-border transactions, as offshore buyers in Asia, the Middle East and Africa seek quality used plant and equipment to support local projects. That’s good for vendors in Australia as it ensures healthy tension in the bidding,” he added.
The McAleese Heavy Haulage & Lifting sale is expected to commence this month with sale materials and online catalogues available through GraysOnline. The sale process is expected to take around four months.
According to Grays, preparations for the McAleese Heavy Haulage & Lifting sale will be made more complex than usual because many of the assets have multiple component parts that need to be located and documented, and their condition assessed, before the asset can be valued and listed for sale.
GraysOnline Head of Mining & Transport, Fenton Healy, said the sale would be structured as a series of direct sales and auctions depending on the dynamics of each asset category, and he expects healthy buying interest.
“Prices for the heavy transport assets have stabilized following the bottoming of the mining downturn. The market for general transport assets is generally pretty liquid and this part of the portfolio is well suited to a national, online auction,”
-- Mr. Healy.
He added, “Cranes are a more specialised category - we’ll be presenting the larger cranes to multinational buyers through our international network and putting the smaller Franna cranes into strategic sale lots depending on their age and condition.
“It’s a complex assignment but one which the Grays team of experts nationally is uniquely placed to execute for maximum return to the administrators.”
Buyers interested in the McAleese Heavy Haulage & Lifting assets can expect to see rolling and major event online auctions that reach national and international markets. The predominantly online platform provides flexibility for the assets to remain on site, avoiding costly relocation sale expenses.
During FY16, GraysOnline facilitated the sale of $349 million in mining, civil and construction, industrial, transport and general commercial assets, through its national platform and international channels.
About GraysOnline
GraysOnline is Australia’s leading online auctioneer, recognised as a leader in the valuation and disposition of plant and equipment, transport and other assets. GraysOnline’s valuation services, project management capabilities and market reach enable them to generate market-leading returns for equipment owners and dealers through auction or outright purchase of assets. For more information, visit: www.graysonline.com.
