Tiger Group, Plant & Machinery Inc. and AuctionSection.com Offer Assets, Including Real Estate, from Metal Fabricator Gulfex

Live onsite/webcast auction on Jan. 26 features equipment used to manufacture high-quality, custom pressure vessels and towers; the company's IP and other assets that are of interest to buyers in the oil and gas, chemical and petrochemical industries are also on offer; online-only real estate auction is Jan. 25.

News provided by

Tiger Group

Jan 19, 2022, 10:43 ET

HOUSTON, Jan. 19, 2022 /PRNewswire/ -- In a January 26 live onsite w/webcast auction, Plant & Machinery, Inc. and Tiger Group are offering machinery and equipment from the South Houston facilities of metal-fabricator Gulfex—formerly a top manufacturer of high-quality, custom pressure vessels and towers used in the oil and gas, chemical and petrochemical industries.

Bidding platforms include Bidspotter and Proxibid. The sale will go live at 10 a.m. (CT) on January 26, both as a webcast at host PMI-auctions.com and onsite at Gulfex's former facility at 701 Louisiana St., South Houston, TX 77587.

Items up for bid in the Jan. 26 auction of assets from Gulfex's closed South Houston plant include large-capacity sub-arc manipulators. (PRNewsfoto/Tiger Group)

A huge selection of heavy-duty tank turning roll sets is also available in the auction by Plant & Machinery, Inc. and Tiger Group. Gulfex Holdings LLC's real estate and IP are also being auctioned. (PRNewsfoto/Tiger Group)

Highlights of the auctions include:

Large-capacity sub-arc manipulators
A huge selection of heavy-duty tank turning roll sets
A large quantity of Lincoln & Miller welders
Work-in-process and raw materials

Bidders can also acquire rolling stock and material-handling equipment—a total of seven forklifts and two flatbed trucks—as well as various other warehouse and office assets formerly owned by Gulfex.

Tiger and Plant & Machinery Inc. are also selling Gulfex's IP. The package includes all technical electronic documents utilized by Gulfex as well as electronic records of completed jobs since 2003; Codeware Compress calculations; AutoCAD drawings; data books; QA/QC manuals; welding procedures; inspection procedures; document-control procedures and forms; and estimating forms.

In addition, sale partner AuctionSection.com is offering three former Gulfex real estate parcels/facilities in South Houston—two on Louisiana Street and one on State Street—in online-only events on January 25. These sales include assets such as two 100-ton cranes: two 50-ton hoists on each bridge, with a 10-ton speed hook on each bridge and a 28-foot under hook.

"We are excited to bring to market such an expansive mix of large capacity vessel fabricating equipment plus the industrial real estate with 100-ton crane capacities," noted Ron Moore, President, Plant & Machinery, Inc.

Founded in 1966, Gulfex consistently provided high-quality products to several major oil and gas and petrochemical companies, not just in the Gulf Coast but across the globe. "This live onsite and webcast auction is an extraordinary opportunity for manufacturers serving these sectors to expand their operations by acquiring specialty M&E at liquidation values," said George Laidlaw, a Director of Business Development for Tiger's Commercial & Industrial division.

For more information, contact Plant & Machinery, Inc. at [email protected], (713) 691-4401, or [email protected], (805) 497-4999.

Media Contacts: At Tiger Group, Maria Hoang, (805) 497-4999, [email protected]. At Jaffe Communications, Elisa Krantz, (908) 789-0700, [email protected].

SOURCE Tiger Group