Heritage Global Inc. Launch of Heritage Global Capital; Announces Executive Changes
September 16, 2019 at 08:30 am EDT
Share
Heritage Global Inc. announced the launch of Heritage Global Capital, a new platform to provide specialty financing solutions to small- and medium-sized investors in charged-off and nonperforming asset portfolios and other asset-based classes.
As part of the launch, the Company recently hired David Paris and Don Hilbert to lead Heritage Global Capital. Mr. Paris has over twenty nine years of experience in the receivables management industry including founding Receivable Services of America and Zenith Acquisition Corporation, which he led to become one of the largest debt buyers in the industry. Most recently, Mr. Paris served as Chief Marketing Officer at CMAX, LLC, a specialty finance company focused on distressed asset markets. Mr. Hilbert brings seventeen years of experience in the consumer debt and specialty finance industries, including roles as founding partner and Chief Financial Officer of Flock Specialty Finance, a specialty lender providing capital to small and mid-size companies in the distressed consumer debt industry, and as a senior executive with Worldwide Asset Management, one of the top ten purchasers of charged-off consumer receivables in the U.S. Mr. Hilbert's prior experience includes roles in M&A, investment banking and public accounting.
Heritage Global Inc. is an asset services company specializing in financial and industrial asset transactions. The Company provides a full suite of services, including market making, acquisitions, refurbishment, dispositions, valuations and secured lending. The Company segments include Industrial Assets Division and Financial Assets Division. Industrial Assets Division includes Auction and Liquidation, which operates a global full-service auction, appraisal and asset advisory firm, including the acquisition of turnkey manufacturing facilities and used industrial machinery and equipment, and Refurbishment & Resale, which acquire, refurbish and supply specialized laboratory equipment. Financial Assets Division includes Brokerage, which charges-off receivables in the United States and Canada on behalf of lenders including banks, mortgage companies, and auto and alternative lending sources, and Specialty Lending, which provides specialty financing solutions to investors.