Heritage Global Partners & Cloud Investment Partners to Host Online Auction Featuring Aerospace Defense SATCOM Assets

SAN DIEGO--(BUSINESS WIRE)--Heritage Global Partners (“HGP”), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL) and a worldwide leader in asset advisory and auction services, announced today that in partnership with Cloud Investment Partners, it has been selected to conduct an exclusive online auction event featuring Surplus SATCOM Communications & Field Equipment from a major aerospace defense contractor.

This unique auction will open February 5^th and close February 6^th, and will feature rare assortment of Humvees, Generators, Communication Shelters, Turrets, Test Equipment & other cutting-edge electronics. A link to the auction registration and catalog can be found on the HGP website.

Craig Thompson, Senior Vice President at Heritage Global Partners, commented, "This auction features late model SATCOM assets that are rarely seen on the secondary market. We are thrilled our client has entrusted the HGP and Cloud teams with this project. Our long-term partnership with Cloud in the aviation & aerospace sectors has resulted in tremendously successful sales events and we expect this project to follow the same trajectory.”

“This sale represents a significant amount of Specialized OEM material that’s instrumental in advanced programs within the aerospace and defense industry, and we are confident it will bring immense value to their new owners,” said David Weiss, Managing Partner at Cloud Investment Partners.

The auction features over 700 auction lots, with notable highlights including:

• 2020 AM General Model M1152 HMMWV (qty. 8)
• Gichner Shelter Systems Transportable Communications Command and Control Shelter (qty. 8)
• L3 Harris Wide Band Data Link Ground Node System (qty. 8)
• Triton Power 26 KW Diesel Generator (qty. 8)
• L3 Satellite Communications System (qty. 8)
• L3 Communications 17.5" in. KU Band SATCOM Antenna (qty. 8)
• Test Equipment Featuring Signal Generators, Signal & Spectrum Analyzers, Oscilloscopes, etc.

About Heritage Global Partners, Inc. (“HGP”)

HGP is a subsidiary of Heritage Global Inc. (NASDAQ: HGBL). HGP operates under the Industrial Assets business unit and is a full-service auction, liquidation and asset advisory firm which holds a prominent spot in the industrial sectors including Aerospace, Automotive, Aviation, Biotech, Broadcast & Postproduction, Chemical, Electronics Manufacturing, Energy, Food & Beverage, Heavy Construction, Metalworking, Oil & Gas, Pharmaceutical, Plastics, Printing, Real estate, Semiconductor, Solar, Textile & Woodworking, and others. HGP conducts 150-200 auction projects per year, globally.

About Heritage Global Inc. (“HG”)

Heritage Global Inc. (NASDAQ: HGBL) values and monetizes industrial & financial assets by providing acquisition, disposition, valuation, and lending services for surplus and distressed assets. This aids in facilitating the circular economy by diverting useful industrial assets from landfills and operating an ethical supply chain by overseeing post-sale account activity of financial assets. Specialties consist of acting as an adviser, in addition to acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, real estate, and charged-off account receivable portfolios through its two business units: Industrial Assets and Financial Assets.

Cloud Investment Partners (“Cloud”)

Cloud is a diversified global investment firm with unparalleled experience in the commercial aviation and defense industries. Its wide-ranging experience has enabled Cloud to help address its client’s challenges and successfully capitalize on investment and divestment opportunities.