Liquidation of Houston Construction Equipment Rental Fleet Begins
Tiger Group, in cooperation with Liquidity Services, is now liquidating the assets of Prime Equip Solutions. The offering of the Houston construction equipment rental company's assets includes late-model telescopic and articulated boom lifts, excavators, wheel loaders, single drum rollers, backhoes and track loaders.
In all, 93 percent of the assets being liquidated are 2012 or newer models, while 40 percent are 2016 or newer. Onsite visits are available by appointment at Prime Equip's 45-acre facility in Houston, and offers are being accepted for all equipment categories.
"This sale provides opportunistic buyers a platform to acquire high quality, late-model assets, the likes of which rarely come on the used equipment market with this age profile," noted Tiger Executive Managing Director Jeff Tanenbaum. "In addition to the discrete asset sales, Prime Equip still has equipment out with customers on rental agreements that run through January and February. Those agreements may be available for assumption as an ongoing revenue source."
The sale features a broad range of equipment, including a fleet of recent model (2016 and 2017) Haulotte and Genie aerial work platforms; a large inventory of LiuGong earthmoving equipment, including model years 2012 to 2014; as well as backhoes, track loaders, dozers and tractors from Terex, Case and New Holland.
"We rarely see assets this new with such low hours coming on to the market, so this is truly a unique opportunity to acquire nearly-new equipment at liquidation prices," said Nick Taylor, vice president of global sales for Liquidity Services.
Prime Equip traces its roots to 2008 when an equipment dealership opened the facility on Rankin Road in Houston. The site was taken over by Noble Iron Inc. in 2012, helping to establish the major brand LiuGong in North America. Following a buyout in September 2016, the company continued to grow, but throughout 2017 faced stiff local competition and difficulty reaching utilization targets with the wide range of assets in its fleet. These conditions led to the decision to close the business in early 2018.