Heritage Global Partners, a worldwide leader in asset advisory and auction services and a subsidiary of Heritage Global Inc., announced it has entered into a strategic partnership with Napier Park Global Capital (“Napier Park”), to pursue acquisition opportunities for industrial machinery, equipment, real estate and turnkey manufacturing facilities from U.S. and multinational corporations.

The partnership seeks to deploy capital for large scale acquisitions of idle machinery, real estate and complete manufacturing plants made available through mergers and acquisitions, corporate consolidations, plant closures and bankruptcies, while simultaneously providing liquidity and other creative financial solutions for lenders, trustees and corporations of all sizes who are looking to monetize their industrial and real estate property assets in an accelerated fashion.

“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,” stated Ross Dove, Chief Executive Officer of Heritage Global Inc. “Our partnership with Napier Park represents another strategically and financially compelling growth opportunity for the Company as it delivers the potential for enhanced revenue and market share, all with a limited impact to our leverage. Importantly, the investments executed under this partnership will enable Heritage Global to further build enterprise value over the long-term as we continue aggressively pursuing the next phase of growth for the Company in 2019 and beyond.”

“Our strategic partnership with Napier Park will provide HGP with the financial flexibility we need to deliver scalable asset monetization solutions to our clients, while supporting the future growth and success of our business division,” added Nick Dove, Executive Vice President of Heritage Global Partners Inc.