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EquipNet Celebrates 15 Successful Years in Business

Published: Saturday, May 10, 2014
Last Updated: Saturday, May 10, 2014
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Company helps clients to generate a significant amount of previously unidentified funds from assets that have been sitting idle.

This month sees specialist asset management company EquipNet celebrating 15 successful years in business. The company has a focus on pharmaceutical, biotech chemical, food & beverage, as well as personal care manufacturing markets, and offers a broad range of services for the effective tracking, redeployment, sales or purchasing of second-hand laboratory instrumentation and manufacturing equipment.

Taken individually, the company’s services help customers meet challenges such as tracking and redeploying assets within a company’s enterprise that they can no longer use, needing to buy equipment quickly and economically, and moving machinery around the globe. When combined, these and other EquipNet services provide a comprehensive and seamless surplus asset management program.

Back in the spring of 1999, a chance meeting between two people on an aeroplane led to the foundation of EquipNet. One of the passengers was an industrial equipment dealer flying home after attending a pharmaceutical machinery auction.

Ben Potenza, VP Marketing, picks up the story: ‘By chance, or fate, the equipment dealer was seated next to a business consultant who specialized in website start-ups. Introductions were made and the topic of conversation turned to their professions. As the flight progressed, what intrigued the equipment dealer most was the fact that the consultant’s latest venture was with a company that had created an online auction platform. He had been thinking about the best way to sell industrial equipment over the web and knew that if done correctly, it would revolutionize the way that companies buy, sell, and manage their surplus capital assets. The two men met again a few weeks later and the rest is history - on 12 May, 1999, EquipNet was founded.’

Fifteen years on, EquipNet has grown from two people in a crowded back room of borrowed space, to now be more than 130 people in locations through North America, Latin America, Europe and Asia.

EquipNet provides full asset management programs some of the biggest corporations in the world: Merck, GE Healthcare, Johnson & Johnson, Novartis, Cargill, Mars/Wrigley, Unilever and Colgate-Palmolive, for example.


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Did You Hear The One About The Two Businessmen On A Plane?
EquipNet’s vision ‘to revolutionize the way companies manage their surplus assets’ was first conceived at 30,000 feet somewhere between Chicago and Boston in 1999. Here we learn more about the company's first 15 years.
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