01 Feb Reflecting on 2015
Reich Brothers finished the year strong having experienced continued growth across all segments of our business. While we are proud of the past, we look forward to the future and are thrilled to have added a complementary business in the guise of Reich Brothers Decommissioning, LLC. This division is managed by Jim Hall, a veteran of demolition, dismantling, and plant decommissioning services.
Our specialty finance division, Reich Brothers Business Solutions, LLC participated in $53 million of gross new originations, and our principal acquisition and fee business completed numerous transactions totaling $25 million of gross transactional volume.
Top acquisitions and liquidations included Sinelli Concrete, Abbott Laboratories, Ralphs Grocery and Blue Island Phenol. The latter was a complex transaction involving a chemical manufacturing facility that was shuttered in 2013, and included the demolition of free-standing structures, environmental remediation concerns, and asset disposal including surplus machinery and equipment. A unique case, Reich Brothers Decommissioning was integral to the success of the transaction and without Jim Hall’s guidance and expertise, it is doubtful that we would have been as successful.
Reich Bros Business Solutions, LLC provided credit in some very interesting circumstances and each transaction brought its own set of distinct challenges. Whatever the case, what really sets us apart is our unique ability to offer credit to companies that have little chance of borrowing through traditional sources of finance such as commercial banks. Because we have spent a lifetime, or at least it feels that way, valuing, buying, and disposing of machinery and equipment we have no problem using these assets as collateral—no matter what the underlying financials indicate.
With all of these pieces in place, we look forward to 2016 with great anticipation. If you need assistance with asset dispositions, demo or dismantling services or a credit facility that meets your unique set of circumstances, we encourage you to contact us. We look forward to working with you in 2016!