HILCO EXPANDS NORTH AMERICAN FOOTPRINT IN MEXICO

HILCO EXPANDS NORTH AMERICAN FOOTPRINT INTO MEXICO

The Hilco Organization and Grupo Acetec Announce New Partnership in Mexico. Newly named "Hilco Acetec" is Mexico's Leading Resource for Asset Appraisals and Disposition Services.

The Hilco Organization has made a significant investment in Mexico City-based Grupo Acetec, a leader in inventory, machinery and equipment appraisals, real estate appraisals and asset disposition services. This new relationship gives Hilco a domestic presence in the Mexican marketplace and a highly-respected partner who is well-known in business, lending and governmental circles. The relationship provides Grupo Acetec with broader capabilities, greater access to international markets outside of Mexico and Latin America, and significant financial resources.

Grupo Acetec was founded in 1992 by Ildefonso Acevedo, the company’s chief executive. Ildefonso has built a team of experienced and talented professionals, now numbering more than 45. They include appraisers, auctioneers and auction services personnel. Many have backgrounds in engineering, accounting, architecture and other relevant professions. The company has four offices, located in Mexico City, Monterrey, Guadalajara and Villahermosa.

Over the years, Grupo Acetec has provided services to international corporate clients with Mexican operations, such as Nestlé, Procter & Gamble, Square D, Rubbermaid, Danone, G Acción and Kellogg’s. They have also served a host of domestic public companies such as Pemex (oil refining), FNM (railroad) and CFE (power generation), and are considered a preferred services provider to the Mexican government through various agencies like Indaabin and SAE.

The investment in Grupo Acetec, which will be renamed Hilco Acetec, is strategically important for Hilco. Through this new partnership, Hilco will be able to further expand its international footprint and open-up enormous business opportunities, initially within Mexican market and then, in time, throughout Latin America.

For more information on Grupo Acetec, please visit www.acetec.com.mx.

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