Gordon Brothers Purchases Package of Industrial Machinery from ERSI Group in Spain
Gordon Brothers has purchased a package of surplus machinery from Engineered Reinforcing Steel Industries group (ERSI Group) in Spain. ERSI Group is engaged in civil engineering and construction projects. The package includes standard equipment for the reinforcing steel industry from well-known German, Italian and Spanish makers, including a Schlatter mesh welding line.
ERSI Group is a global organisation and a portfolio company of private equity investor JZ International, a key player in the reinforcing steel sector that’s undertaken significant projects in Europe, Latin America and the Middle East.
However, in recent years, ERSI Group has suffered a reduction in business volume resulting in the closure of several plants and exit from several countries. The company is looking to expedite the sale of the surplus machinery to generate immediate capital.
Gordon Brothers and ERSI Group have agreed to complete the sale from the current premises within six months.Gordon Brothers has engaged the Spanish auctioneer International Auction Group (IAG) to begin the resale process immediately.