Gordon Brothers, AccuVal Merge; Form Largest Appraisal Practice
Gordon Brothers Group and AccuVal-LiquiTec announced Gordon Brothers Group’s Valuation & Advisory Services Division and AccuVal-LiquiTec have entered into a merger to form Gordon Brothers-AccuVal. The newly formed group will operate as a wholly owned subsidiary of Gordon Brothers Group, already one the world’s leading disposition and appraisal firms. The transaction marks the union of two of the longest-standing valuation firms in the industry, with nearly 140 year combined heritage. The new company is the premier asset appraisal firm in the world, conducting over $60 billion of appraisals annually, serving 18 countries from 25 offices globally.
The merger will broaden the range of available services offered by the new firm, providing access to related disposition services through the broader Gordon Brothers Group organization, as well as debt financing through Gordon Brothers Finance Company. The new firm will be headquartered out of Gordon Brothers Group’s Boston office.
“We are thrilled to come together with Gordon Brothers,” said Rick Schmitt, co-founder of AccuVal-LiquiTec and now serving as president of Gordon Brothers-AccuVal. “Our combined capabilities are unmatched in terms of scale and expertise. With Gordon Brothers’ $10 billion of annual dispositions backing us up, there is no equal.”
“This merger unlocks the most in-depth industry knowledge available today. We now have more ASA accredited appraisers than our competitors combined. And that team now has access to the largest asset database in the world” jointly stated Ann Merrill and Frank Grimaldi, formerly of Gordon Brothers Group’s Valuation & Advisory Services Division and now serving as COO and national sales manager, respectively, of Gordon Brothers-AccuVal. “Gordon Brothers-AccuVal has completed more appraisals and has more disposition experience in key sectors like energy, technology, food processing, textiles, and retail than anyone else” they continued.
“AccuVal’s expertise in the commercial & industrial sector is the perfect complement to Gordon Brothers’ long-standing dominance in the retail and consumer industries. Joining forces provides our clients with deep, asset-specific valuation advice backed by our market-leading disposition guarantees and tranche B lending through Gordon Brothers Finance Company. We are very excited for what the future holds for Gordon Brothers-AccuVal,” said Ken Frieze, CEO of Gordon Brothers Group.