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Hilco Redevelopment Partners Acquires large Reclamation, Remediation, and Recycling Company

In May 2017, Hilco Redevelopment Partners purchased a complex and challenging reclamation, remediation and recycling company. EscoMarine Inc. was one of the largest and most active ship recycling and scrap processing companies in the world, located in Brownsville, Texas.

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Esco ceased operations in 2015, putting over a hundred employees out of work, and subsequently filed for bankruptcy shortly thereafter. The decommissioned aircraft USS Saratoga and two smaller vessels had been sitting partially disassembled since then.

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Hilco Redevelopment Partners purchased the asset and renamed the company SteelCoast. Operations began immediately with a new management and operations team and has significantly invested in improving the facilities.

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SteelCoast is one of the largest most technologically advanced reclamation, remediation, and recycling firms in North America, creating approximately 150 jobs in Brownsville.

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The facility provides a complete end-to-end solution including recycling both military and non-military oceangoing vessels, oil rigs, train locomotives, railcars, as well as other industrial and commercial sources of recyclable metals.

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Steel Coast News

SteelCoast, a Joint Venture of Hilco Redevelopment Partners and MCM Marine Services, Completes

May 01, 2017 - Brownsville, Texas – Hilco Redevelopment Partners, a unit of Hilco Global (Hilco), and MCM Marine Services… affiliate of MCM Management Corp. (MCM), announced today that they completed a transaction to purchase the assets of one of the largest and busiest ship recycling and scrap processing companies in the world (formerly known as ESCO Marine).