Gordon Brothers Engaged to Offer for Sale Multi

Sydney, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Gordon Brothers, the global advisory and investment firm, has been engaged on an exclusive basis to offer for sale by private treaty Tek-Ocean Spirit on behalf of Barry Wight and Daniel Juratowitch of Cor Cordis, the Administrators of Tek-Ocean Group Ltd.

The firm is managing the disposition of the multi-purpose platform supply vessel docked in Victoria, Australia and marketing it for sale to the international marine market.

Built in 1991 at Ulstein Verft As in Norway, Tek-Ocean Spirit has an open cargo deck equipped to handle liquid and dry bulk cargoes. The vessel has undergone numerous maintenance and retrofitting upgrades throughout its working life and was recently converted for inspection, maintenance and repair, remotely operated vehicle, and subsea operations with the addition of a 60-tonne AHC crane, mezzanine deck, and launch and recovery system.

“This presents prospective buyers an excellent opportunity to acquire a well-maintained, reputable and prompt available vessel,” said Oliver Veart, Director, Marine & Valuations at Gordon Brothers. “This is a significant marine disposition engagement for our firm, and we look forward to building upon our market-leading disposition and appraisal capabilities in the marine, shipping and offshore markets in Australia while continuing our expansion throughout Asia Pacific.”

“We’re pleased to partner with Gordon Brothers on this disposition," said Wight, Partner at Cor Cordis. “The firm has a strong international presence and marine expertise, which will help us realise the vessel’s maximum value.”

For vessel specifications and private treaty sale information, please visit: https://sales-australia.gordonbrothers.com/product/platform-supply-vessel-tek-ocean-spirit/.

Gordon Brothers has established a dedicated marine services and valuations practice that leverages decades of experience buying, selling and valuing assets in the commercial and industrial economy across Asia Pacific, North America, South America, and Europe, the Middle East and Africa. The firm provides advisory services including fleet and vessel renewal analysis, disposition and investment strategies.

About Gordon BrothersSince 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, management teams, advisors and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four services areas: valuations, dispositions, financing and investment. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial and industrial sectors to provide maximum liquidity, put assets to their highest and best use and mitigate liabilities. The firm conducts more than $100 billion worth of dispositions and appraisals annually and provides both short- and long-term capital to clients undergoing transformation. Gordon Brothers lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services. The firm is headquartered in Boston, with over 30 offices across five continents.

About Cor CordisCor Cordis, a leading business advisory firm in Australia, specialises in addressing complex financial problems with the goal of helping each client achieve the best business outcome. Their experienced specialists work across multiple sectors, delivering solutions to the challenges that organisations face in uncertain times. With 19 partners and over 120 employees, Cor Cordis has a substantial presence in Australia.