Powerwave Technologies’ Turnkey Wireless Network Infrastructure, Telecom Inventory and Capital Assets Acquired by Industrial Auctioneers to Be Sold in Series of Upcoming Online Auctions

Powerwave Technologies’ Turnkey Wireless Network Infrastructure, Telecom Inventory and Capital Assets Acquired by Industrial Auctioneers to Be Sold in Series of Upcoming Online Auctions

- Powerwave Technologies Sale Events Feature Thousands of High Quality Capital Assets, Including an Unprecedented Offering of Antennas, Tower Mounted Amplifiers, Telecom Inventory as well as Test and Measurement Equipment -

SAN DIEGO & SANTA ANA, Calif.--(BUSINESS WIRE)-- Heritage Global Partners (“HGP”), and its parent company Counsel RB Capital (OTCQB: CRBN), in conjunction with Maynards Industries Ltd, New Mill Capital LLC, and The Branford Group, today announced that they will jointly manage a series of sales for the complete turnkey wireless network infrastructure and related capital assets of Powerwave Technologies Inc. (Nasdaq: PWAV  ) (“Powerwave”).

Powerwave designs, manufactures, and markets a comprehensive suite of wireless technologies and is a global supplier of end-to-end wireless solutions for wireless communications networks. Together, the companies acquired Powerwave’s assets following its Chapter 11 bankruptcy (Case #13-10134) at an original asset acquisition cost of approximately $100 million. A series of global online auctions will be hosted and managed by Heritage, complete details and event dates to follow at www.hgpauction.com.

“Together with our valued partners we will be conducting a series of sales of Powerwave’s state-of-the-industry wireless network and capital assets. The upcoming auctions include an unprecedented offering of capital assets and will be the year’s largest sale of Test and Measurement equipment, by far. We believe our combined global presence and familiarity with the marketplace, paired with our expert industry knowledge, will attract significant interest from worldwide buyers,” stated Ross Dove, Managing Partner of Heritage Global Partners.

“We are anticipating very strong demand from buyers worldwide as the upcoming sales represent a unique opportunity to acquire a wealth of high quality assets, including base station antennas, tower mounted amplifiers (TMA), filters, furnishings, tooling, wireless inventory and equipment, and much more. We look forward to working together to maximize the ultimate value of Powerwave’s assets,” stated Matthew DelGuidice, VP of Maynards US Operations.

Led by auction industry pioneers Ross and Kirk Dove, Heritage Global Partners is one of the leading worldwide asset advisory and auction services firms, assisting companies with buying and selling assets. HGP specializes in asset brokerage, inspection, and valuations, industrial equipment and real estate auctions, and much more.



Heritage Global Partners
David Barkoff, 650-649-0147
dbarkoff@hgpauction.com
or
JCIR
Jennifer Neuman, 212-835-8500
CRBN@jcir.com

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2454931, ~/Articles/ArticleHandler.aspx, 4/17/2014 5:45:09 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...