Auction Bidding Closes May 21, 2024, 10:00 AM EDT  https://www.hgpauction.com/auctions/124369/flexsteel-2/

Heritage Global Partners (“HGP”), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), in partnership with Integra Asset Solutions, is pleased to announce an exclusive online auction featuring woodworking and furniture manufacturing equipment from Flexsteel Industries. This auction presents a prime opportunity for businesses and individuals to acquire a wide array of machinery and equipment for furniture production and more.

Bidding will take place online with lots starting to close at 10:00 AM EDT on May 21, 2024. Interested parties should register to participate through the auction website.

Flexsteel Industries is one of the largest manufacturers, importers, and marketers of residential furniture products in the United States. The sale features a wide range of machinery and equipment tailored to meet the needs of furniture manufacturers seeking to expand their production capabilities.

Highlights of the Equipment Available at the Auction Include:

  • Routers: Featuring renowned brands like KOMO, including the KOMO VR 510 Mach X and the KOMO HS 1605.
  • Fabric Cutters: Offering precision and efficiency with Gerber DCS-3500 and GTXL CE models.
  • Material Handling & Vehicles: A range of forklifts, trucks, and trailers, including brands like Hyster, Columbia, and International.
  • Sewing Machines: Over 30 Durkopp Adler 867-190322m sewing machines available.
  • Compressors: Essential for various manufacturing processes, including models from Spencer, Hoffman, Ingersoll, and Gardner Denver.

Prospective bidders will have the opportunity to preview the equipment on May 20, 2024, from 8:00 AM – 4:00 PM (ET), or by appointment. Contact Mark Reynolds at 708-765-3989 or mark@integra-as.com for scheduling.

David Barkoff, Senior Vice President at Heritage Global Partners, expressed enthusiasm about the upcoming auction, stating, "We are thrilled to partner with Integra Asset Solutions in presenting this exclusive opportunity to the furniture manufacturing industry. The equipment available at this auction represents top-tier quality and performance, ideal for businesses aiming to elevate their production processes."

Mark Reynolds, Managing Director and Partner at Integra Asset Solutions, highlighted the significance of the auction, saying, "This event marks a unique chance for companies to acquire woodworking and furniture manufacturing equipment. With offerings including Komo Routers, this auction provides a unique opportunity for companies to acquire a wide variety of machinery to enhance their manufacturing capabilities."

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.

About Integra Asset Solutions  Integra Asset Solutions specializes in comprehensive liquidation and valuation services of commercial and industrial assets. Integra can monetize any asset on the balance sheet, including machinery and equipment, inventory, real estate, and accounts receivable. Integra is prepared to navigate the nuances of complex liquidations and can provide various financial structures that may be necessary for a specific project, this includes buying all assets outright or performing services as a commissioned provider. With decades of industry experience, Integra consistently maximizes recovery values for distressed, nonperforming, or surplus assets for small and multi-national corporations alike.

David Barkoff (650) 759-2242 dbarkoff@hginc.com

Mark Reynolds (708) 765-3989 mark@integra-as.com

Investor Relations: John Nesbett/Jennifer Belodeau IMS Investor Relations 203/972.9200 InvestorRelations@HGinc.com

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