Victory Park Expands Offerings with Yellen Investment
Victory Park Capital (VPC), an asset management firm focused on middle market debt and equity investments, will strengthen its capabilities in the asset liquidation industry through an investment in Yellen Partners, LLC (Yellen Partners), an asset liquidation company, which VPC will combine with Reich Brothers Holdings, an existing portfolio company focused on a diverse range of capital and surplus asset solutions. The expanded platform will be renamed YR Holdings, LLC (YR Holdings), and will grow VPC’s presence in the sector by diversifying the company’s service offerings into retail and inventory, in-house appraisal and auction capabilities, and expanding its capabilities in industrial, manufacturing and healthcare asset liquidations.
YR Holdings, through its wholly owned subsidiaries, Reich Bros and Yellen Partners, will offer and manage a full range of complementary services for numerous asset classes. Yellen Partners will be led by industry veterans Harvey and Brian Yellen, who bring extensive experience in the retail and industrial asset liquidation industry, while Reich Bros will continue to be run by Co-CEOs Jonathan and Adam Reich. With increased senior leadership and shared corporate resources, YR Holdings will house a diversified deal pipeline, including liquidations, auction services and equipment solutions, as well as internal and third party retail and industrial asset appraisals.
The Yellens each bring more than 20 years of seasoned experience across the liquidation industry. Harvey Yellen previously served as president, CEO and chief operating officer to various retail companies, as well as managing partner of Great American Group. Brian Yellen most recently served as executive vice president of Great American Group and possesses extensive experience in the liquidation of retail, distribution and manufacturing assets.
“VPC believes there’s a strong market opportunity for a new, innovative platform in the asset liquidation sector backed by recognized and seasoned leadership. We also see opportunities across sectors and business cycles where there’s a need for asset validation and disposition services,” stated Richard Levy, CEO and founder of VPC. “By adding Harvey and Brian’s expertise in the category with the Reich Bros, we feel this new platform is poised to deliver strong results across a wide spectrum of transactions.”
“Our industry experience, and the Reich’s successful track record across a wide range of asset classes, will allow us to drive future business growth,” said Harvey Yellen, chairman of YR Holdings and chairman and CEO of Yellen Partners.
Brian Yellen, president of Yellen Partners, said, “We look forward to working with a team as experienced in this sector as VPC and Reich Bros in order to continue building upon our strong reputation across the U.S.”