Tiger Group launched Tiger Energy, a new global division focused on helping major energy companies identify, recycle and monetize surplus machinery and equipment (M&E) and rolling stock.
Buoyed by eight recent new hires, the growing team is based in the United States, Oman, the United Arab Emirates, Malaysia and Trinidad and Tobago, key energy markets with independents looking to fuel their growth by acquiring secondary-market equipment, according to Chad Farrell, senior managing director of Tiger Energy and its parent division Tiger Commercial & Industrial.
“Energy companies are increasingly focused on reducing holding costs and converting surplus assets into working capital. They also want to make progress toward their ESG goals by giving high-value equipment a second life,” Farrell said. “Tiger Energy is built to meet those needs. We connect sellers with a global network of qualified buyers, executing transactions with speed, transparency and certainty.”
The team has managed and executed energy-sector auctions, sealed-bid and negotiate sales valued at more than $1 billion across dozens of countries. Its specialists have experience in monetizing drilling equipment, oil country tubular goods (OCTG), line pipe and traditional oilfield equipment, as well as everything from construction cranes and heavy trucks to EV charging infrastructure and battery storage systems.
“Our specialists know the local players and provide end-to-end service to reduce risk and achieve higher outcomes,” Nick Abueita, senior director of Tiger Energy, who brings more than a dozen years of experience liquidating surplus equipment for Fortune 500 energy companies, said. “Whether the objective is reducing storage costs, improving procurement efficiency or converting idle equipment into working capital, we deliver results.”
