Daily News: January 26, 2016

Hilco Merchant Resources Completes Fixture Finders Acquisition

Hilco Merchant Resources completed its acquisition and integration of Grand Rapids, MI-based Fixture Finders business, creating one of the largest retail FF&E fixed asset disposition companies in the U.S.

The new legal entity, called Hilco Fixture Finders, will significantly expand Hilco Merchant Resources’ current furniture, fixture, and equipment business (previously called Hilco Fixed Asset Recovery) while providing an important strategic advantage in today’s marketplace. Michael Keefe, CEO of Hilco Merchant Resources said, “By combining Fixture Finders current business footprint with the depth and breadth of Hilco’s resources, we’ve created a powerful new company with enhanced capacity and facilities to deliver a broader offering of product and services to retailers nationwide”.

The combined operation will also significantly expand Hilco Merchant Resources’ fixed asset recovery practice, maximizing the national retail relationships that Fixture Finders has established over the years while delivering synergy with Hilco’s existing retail client base. “Our recent inventory and FF&E assignments from supermarket operator Haggen Holdings and grocery chain Fresh & Easy demonstrates the power of this new platform,” said Keefe.

Scott Hoek will continue to serve as the CEO and a principal of the new entity. Ed Stepp of Hilco Merchant Resources’ fixed asset recovery group has been named to the position of executive vice president and principal for Hilco Fixture Finders. Also, Randy Oake, a VP of Field Operations (FF&E) at HMR, will be responsible for maximizing FF&E value on all HMR inventory liquidation deals within the new organization.