An investor group comprised of Capital Recovery Group, Federal Equipment Company, Heritage Global Partners and PPL Group LLC have acquired a Huntsville, Alabama-based pharmaceutical manufacturing and packaging facility. The seller was an unnamed generics manufacturer. No financial terms were disclosed.
CLEVELAND, Dec. 11, 2018 /PRNewswire/ — Capital Recovery Group (CRG), Enfield, CT; Federal Equipment Company, Cleveland, OH; Heritage Global Partners, San Diego, CA; and PPL Group LLC, Chicago, IL, today announced the finalization of the purchase, in its entirety, of a flexible pharmaceutical manufacturing and packaging facility from a generics manufacturer in Huntsville, Alabama.
A strategic redevelopment is planned for the 110-acre campus. This facility will accommodate a wide variety of uses ranging from the existing pharmaceutical, to alternate manufacturing, to high cube distribution warehouse. The site includes three independent modern buildings totaling +/- 800,000 s/f, with a +/- 275,000 s/f distribution warehouse with offices, a +/-330,000 s/f oral solid dose facility with two serialized packaging lines, and a +/-195,000 s/f non-sterile liquids manufacturing facility with four filling lines. The site also has two pads for potential future expansion. Each of the three buildings and equipment are available as standalone operations or together.
“We are excited to share these opportunities, including bringing to market late model tablet manufacturing and serialized packaging equipment, as well as offering top-quality liquids manufacturing and filling lines as a turnkey operation.” stated Adam Covitt, Vice President of Federal Equipment Company.
About Capital Recovery Group (CRG)
CRG is an international private equity firm, which creates liquidity and opportunities through innovative solutions. We specialize in complex industrial facilities with idle or marginally productive assets and may work with strategic partners to revitalize the under productive assets and possibly liquidate the surplus. Our business model is to execute the above as principals where we roll up our sleeves and work hard to achieve our goals with our risk capital deployed. We have a multi-million dollar credit facility, which provides the capital to accomplish the foregoing. Visit www.crgllc.com.
About Federal Equipment Company
Federal Equipment Company, the trusted name in used processing equipment, provides reliable used industrial and process equipment at competitive prices for pharmaceutical, packaging, chemical, plastics, food and beverage and similar processing industries. From our headquarters in Cleveland, Ohio, Federal Equipment Company delivers reliable machinery at a fraction of the cost and lead time of new equipment. Register with Federal Equipment Company today to purchase equipment, request a quote, make an offer, or purchase used industrial and process equipment instantly. Visit www.fedequip.com.
About Heritage Global Partners
Heritage Global Partners (“HGP”) is one of the world’s largest industrial auction companies and specializes in the valuation, acquisition and disposition of assets in more than 25 industry sectors including biotech, pharmaceutical, medical and related high tech verticals. HGP’s management team has completed over 5,000 industrial auctions in more than 40 countries. HGP is a wholly owned subsidiary of Heritage Global Inc. (OTCQB: HGBL, CSE: HGP). Heritage Global Inc. is a value-driven, innovative leader in corporate and financial asset liquidation transactions, valuations and advisory services. Visit www.hgpauction.com and www.hginc.com.
About PPL Group (PPL)
PPL is one of the premier companies that builds creative and agile liquidity solutions for companies with distress or special situations. PPL does this via three different business units – Asset Disposition: Purchasing and selling commercial and industrial assets, real estate, and entire facilities from individual owners up to Fortune 500 companies. Financing: Quick and creative alternative financing solutions based on asset value for small and middle-market companies in need of liquidity. Private Equity: Equity investments in small and middle-market distressed manufacturing companies. Visit www.pplgroupllc.com.