Nations Capital & Ritchie Bros. to Sell Rolling Stock Assets of Yellow Corporation

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Nov 02, 2023, 07:00 ET

ALLIANCE, Ohio, Nov. 2, 2023 /PRNewswire/ -- Nations Capital (NCI), a Gordon Brothers company and an asset management and advisory firm focused on opportunistic investments and asset remarketing, together with Ritchie Bros. Auctioneers (Ritchie Bros.) have received bankruptcy court approval to be the agent and liquidator of Yellow Corporation's transportation assets.

The companies will utilize the expansive footprint of both Ritchie Bros. and IAA facilities, to manage the relocation, transportation, refurbishment, inventory, storage and sale of the rolling stock assets, including approximately 60,000 units of trucks, trailers and miscellaneous LTL support equipment located across the United States and Canada at over 300 terminal locations. NCI and Ritchie Bros. will implement a multi-faceted sales strategy, including private treaty and strategic bulk sales, as well as live and fully digital formats, to maximize the value of the trucks and trailers throughout 2024.

"We are honored to provide Yellow Corporation a comprehensive solution to maximize the value of its rolling stock assets," said Jim Burke, Executive Vice President, NCI. "The historic size and complexity of this transaction required a highly coordinated effort between the teams at NCI, Ritchie Bros. and the company. Together with Ritchie Bros., we are prepared to lead one of the largest disposition events in our industry."

For nearly 100 years, Yellow Corporation was one of the largest logistics and LTL networks in North America with local, regional, national and international capabilities. Yellow Logistics is a freight brokerage subsidiary that combines cutting-edge transportation management system technology with multi-modal logistics to help customers meet all their shipping needs coast to coast. Yellow Corporation offers industry-leading expertise in heavyweight shipments and flexible supply chain solutions, ensuring that customers can ship industrial, commercial and retail goods with confidence in timely deliveries.

"We are excited to offer the market this extensive fleet of trucks, trailers and support equipment from what was one of North America's largest carriers," said Zac Dalton, Executive Vice President, NCI. "Our experience and proven track record with large fleet sales in the transportation space was key in winning the trust of this customer."

Additional details about the purchase of the rolling stock assets can be found at nci.direct or by contacting [email protected].

About Nations Capital (NCI)
Nations Capital, a Gordon Brothers company, is a strategic partner to companies and clients across a wide range of commercial and industrial sectors, with a particular focus and expertise in finance, restructuring, and insolvency. We provide capital, advisory services and infrastructure to guide our clients through change and growth. Nations Capital is frequently recognized as an industry leader in its field and consistently provides tailored solutions to its clients in a time of change. Nations Capital is headquartered in Ohio with facility locations throughout North America.

SOURCE Nations Capital, LLC