Loeb, Heritage Global Partners and Blackbird Asset Services Sell Green Flash’s Virginia Beach Brewing Equipment to New Realm Brewing

VIRGINIA BEACH, Va. — Loeb in partnership with Heritage Global Partners and Blackbird Asset Services recently announced the sale of Green Flash’s Virginia Beach brewing equipment to New Realm Brewing Company, a southeast based craft brewery.

The partners were able to execute a comprehensive and targeted marketing strategy focused on the craft brew segment. Interest was immediate, and dozens of inquiries were fielded and several inspections managed while entering into discussions with New Realm. They also worked closely with the bank, landlord, and interested parties to resolve issues and negotiate a purchase agreement.

“The considerable interest in newer, high-quality brewing equipment truly shows that the craft beer industry is alive and well,” stated Howard Newman, President of Loeb. “We are thrilled that we were able to facilitate a sale that was in the best interest of both Green Flash and New Realm.”

Green Flash was founded in 2002 as a craft brewery and tasting room and has since grown into a nationally distributed brand. The company will continue its production from their California and Nebraska facilities.

New Realm was started in 2016 by co-founders Carey Falcone, Bob Powers and Mitch Steele, and opened its first production facility in a 20,000-square foot space on Atlanta’s east side Beltline trail. New Realm is currently exploring options for the location of the recently purchased equipment and a potential new taproom.

As experts in manufacturing equipment, the partners have conducted numerous auctions and liquidations for breweries such as: Coors, Molson, Pabst, Berghoff, and most recently Redhook.

About Loeb

For five generations since 1880, Loeb has been a trusted provider of reliable equipment and related services that help manufacturers and financial institutions leverage their industrial assets by managing the equipment lifecycle. Headquartered in Chicago with a 150,000 square foot facility, Loeb provides: equipment sales, purchases, rentals, leasing & liquidations, certified market appraisals, auction services & asset disposition, and equipment financing to the: food, pharmaceutical, cosmetics, chemical, metalworking, woodworking, plastics, and printing industries. www.loebequipment.com

About Heritage Global Partners

Heritage Global Partners Inc., is one of the world’s largest industrial auction companies and a wholly owned subsidiary of Heritage Global Inc. a value-driven, innovative leader in corporate and financial asset liquidation transactions, valuations and advisory services. Heritage Global focuses on identifying, valuing, acquiring and monetizing underlying tangible and intangible assets in twenty-eight global manufacturing and technology sectors. Heritage Global 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. www.hginc.com

About Blackbird Asset Services

Blackbird is a boutique auction and valuation firm that relieves the stress for secured creditors, bankruptcy trustees, and complex Chapter 11 cases. Blackbird’s management team has an exceptional record of customizing successful auction campaigns across a breadth of industries to return monetary value to sellers seeking to liquidate assets. Blackbird was founded by auction veteran David Fiegel, a certified appraiser with 24 years’ experience selling commercial assets and real estate throughout North America.www.blackbirdauctions.com