SAN DIEGO--(BUSINESS WIRE)--Heritage Global Inc. (NASDAQ: HGBL), an asset services company specializing in financial and industrial asset transactions, today announced that Samuel L. Shimer has been elected Chair of its Board of Directors. Former Chair and Board of Directors member Allan C. Silber has resigned from Heritage Global’s board, effective at the close of the March board meeting, following a long tenure with, and stewardship of, the Company, to focus on other business commitments.
Sam Shimer joined the Heritage Global board in April 2001. He has enjoyed a long and distinguished career in the financial sector and currently serves as a Managing Director at SLC Capital Partners, a firm he co-founded in 2010 to make private debt, buyout and growth capital investments in smaller middle market companies. Before that he worked at number of private equity firms, including JHW Greentree Capital, a J.H. Whitney & Company SBIC fund, two merchant banking funds affiliated with Lazard Frères & Co., Centre Partners and Corporate Partners, and The Blackstone Group. He began his career at Drexel Burnham Lambert Incorporated after earning a Bachelor of Science in Economics from The Wharton School of the University of Pennsylvania. After leaving Drexel, Sam earned a MBA from Harvard Business School.
Heritage Global’s Chief Executive Officer Ross Dove commented, “We welcome Sam as our new Board Chair. He has been a key contributor to our progress, providing valuable perspective and insight during his years as a board member. With his comprehensive understanding of all elements of our business, we believe his leadership will complement our growth plans moving forward.”
“We thank Allan Silber for his countless contributions to Heritage Global during his many years of service and leadership on the Board of Directors. Our Company has benefitted from his extensive knowledge of the financial markets and our industry, and we wish him well as he focuses on his ongoing business commitments, as well as his continuing commitments in the leadership of several cultural, charitable and community-based organizations.”
About Heritage Global Inc. (www.heritageglobalinc.com)
Heritage Global Inc. (NASDAQ: HGBL) is an asset services company specializing in financial and industrial asset transactions. The company provides a full suite of services including market making, acquisitions, dispositions, valuations and secured lending. Heritage Global focuses on identifying, valuing, acquiring and monetizing underlying tangible and intangible assets across twenty-eight global sectors. The company acts as an adviser, as well as a principal, acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios, intellectual property, and entire business enterprises.
