TJ Lambrecht going out?

[farm_boy]

Found this on Google news this morning. One heck of a list of equipment being sold!

http://www.prnewswire.com/news-rele...d-by-tj-lambrecht-construction-155979865.html

http://gordonbrothers.com/Solutions...quipment-Dispositions/Deal-Details.aspx?id=86

 

[Puppy]

I don't know about them going out 375 pieces seem like a lot but they do extremely large projects and most likely don't keep all the equipment around after a project finishes up.

 

[JDOFMEMI]

Sounds like they are not going out, but needed money for some reason, and they are selling off a large portion of their fleet. The article mentions that they chose this method because they could get the funds immediately.

 

[CM1995]

This could just be a smart management decision, especially if their work load/type has changed. Turn the idle iron into cash and strengthen their balance sheet in general or they may need to bolster their balance sheet in order to get bonding for some upcoming projects, then turn around and rent the equipment they need. Who knows they may be transitioning to more of a Construction Manager role and won't be self-performing as much work anymore. Whatever the reason they are "greening" up.

Also the article said they had a rental agreement with Gordon Brothers to use some of the equipment they sold to them in order to finish up the jobs they have.

 

[JimBruce42]

Glancing over the list, a lot of the equipment is older or high hour machines. Like the others said, this sounds more like a "cleaning house" of older machines that won't meet new emissions and/or idle equipment that isn't making money. Though I think Vapor works for them, maybe he'll chime inopcorn

 

[Tinkerer]

According to this news article they are selling assets formerly owned by TJL.

http://gordonbrothers.com/About-Us/Press-Releases/2012/5/TJ-Lambrecht.aspx?m=1

I worked for B&L and TJL for over thirty years. I retired in 2003,that was the same year Tommy Lambrecht was killed in an automobile accident. A lot of changes have taken place in the company since that unfortunate accident occurred.
I have heard from some reliable sources is that TJ Lambrecht Const. is in the process of being sold. And with any sale of that magnitude there are a lot of details that have to be finalized.
If anyone cares to read about the beginning of the company; here is a web site link to some of their history.

http://www.tjlambrecht.com/history.asp

 

[Kman9090]

I work for TJ Lambrecht and no one really knows what's going on. Kinda get the same run around that Tinker mentioned. All things aside they have been an outstanding company to work for and I hope they can keep it going but ever since Tom died the company has been on the market. Everything right now is just rumors, nothing set it stone as of right now.

 

[Kman9090]

Also a lot of those pieces were not even being used. They have had a lot of equipment sitting around since they finished the SH 130 job in Texas. Work just isn't going like it used to be a few years ago and they have a lot of equient not being utilized. 3 of their biggest jobs they have ongoing are nearing the final stages of completion and no big jobs for them to go to.

 

[Catskinner21]

Hey guys it's true.they are trying to sell out. Not for finAncial reasons. Not sure if they will sell the company or sell out.

 

[Catskinner21]

I have only been with them for about 3 months. as kman said they have been outstanding. Hate to see a company that has been built to this from scratch close the doors. But as also mentioned there isn't to many bigger jobs letting in this part of the country right now for that iron to move on to I'm sure they see it as a time exit

 

[Tinkerer]

I was told yesterday that if the pending sale of the company is not completed by the end of June, they are going to close down the business as we have known it. They are (must) going to complete all of the jobs that are now underway.

 

[Bluetop Man]

The only two guys I know who could pull off a buyout of TJ Lambrecht are Warren Buffet and Angelo Iafrate. And possibly Denton. Lonking Group? You never know til the ink dries...

 

[Kman9090]

Nah I'm sure there's more then that.

 

[Kman9090]

Tinkerer what did you do for tjl when you worked here? Management?

 

[Tinkerer]

Tinkerer what did you do for tjl when you worked here? Management?

Kman, Because of what I would refer to, as the sensitivity of what I post here in this thread, I prefer to remain anonymous in regards to what I did and who I actually am.

 

[Catskinner21]

Some of that top secret stuff! Lol

 

[MWG1971]

I Hope They Are Going Under!!!I Worked For Them In Texas And They Have All South Of The Boarder Persons Working.I Made The Most Loads Every Day Operating A E-45 And 740 Cat Truck/Got Bit By A Brown Recluse In That Machine And I Was Let Go Becouse Of That!!!Some Of There Persons Were Wreaking Machines And Not Getting Wrote Up Or Anything.Im Third Generation Operator/Foreman\And I Have Never Seen Such A Circus In My Life/I Have Worked For A Very Respectfull Contractor In NW Indiana And SW Florida.Since The Bite I Have Been Off Work And That Been 4 Years!!!!
So What Goes Around Comes Around!!!!!!!!

 

[d9gdon]

Man, that is some kind of a mouthful. I don't know what else to say.

 

[MWG1971]

And Down In Texas They Have Ilagals Working As Feild Engineers And Operators/And What Every Else!!!Im Not Afraid To Say I Called The Goverment On Them/And Friend Of Mine Is White And They Wouldnt Even Give Him A Job App As Well And He Is Thrid Generation!!!!Maybe The TJL Persons Up North Should Open There Eyes Or Send Someone Down To Look At Green Cards!!!Also There Are Complants On I Hire Illagals Dot Com About TJL!!!!!My Friend Is A Supt Up North For Them And Was Told A Diffrent Story About Why I Was Let Go.And Why Was The Dozer Operator Who Got Hurt Putting Out A Fire On A 375 Cat Backhoe Hurt And Still On The Pay Roll For 40 Hours!!!This Job Was At The Tessman Road Landfill In San Antonio Texas!!
Need Less To Say There So Called Safty Man Jim Quinn Is A Lair And Needs To Be Looked At By The Persons Up North Or The Feds!!!!This Is The Truth Baout How There Ran Down In Texas!!!!Not Safe At Alll So What Goes Around Comes Around!!!

 

[MWG1971]

Maybe Its Becouse In Texas They Have Illigals Working Down There And There Safety Man Jim Quinn Is A Big Lair And Hires All Of Them!!!