Duo establish asset advisory firm

A new asset advisory firm has officially opened its doors to insolvency practitioners, asset-based lenders and finance companies across Yorkshire.

BPI Asset Advisory of Normanton is a new venture for partners David Boulton, Managing Director BPI Auctions and Andrew Cromack, Chartered Surveyor & RICS Registered Valuer, formerly of Sanderson Weatherall.

The firm will initially focus on machinery and business assets in line with Cromack’s specialist qualification as a chartered machinery and business asset surveyor, one of only a few in the UK.

The partnership also heralds a strategic relationship between online auction BPI Auctions – set up in 2010 by Boulton and least year reported revenues of £8m – and BPI Asset Advisory.  It enables BPI Asset Advisory to offer all aspects expected of a RICS chartered surveying practice but with the benefits of extensive warehouse space, marketing and logistics teams plus access to BPI Auctions’ leading online auction portal and buyer database.

Andrew Cromack, Director at BPI Asset Advisory, said: “Our relationship with BPI Auctions enables us to cut out the middlemen usually required for uplift and storage.  As a result, we provide all the rigour and due diligence clients expect of a chartered firm but delivered more quickly and at a more competitive price.

“I am looking forward to continuing relationships with clients and introducing BPI Asset Advisory to new clients throughout the region.”

David Boulton, Director at BPI Asset Advisory, says: “BPI Asset Advisory has the team and facilities to challenge expectations of the service delivered by asset valuation and disposal firms. We are already in talks with some of the region’s and the UK’s largest insolvency practices and asset finance companies who appreciate the value we can add to their business.”