What salvage does

Riverside Trading and Salvage Inc. is a privately held, family-owned salvage and merchandise recovery company headquartered at 6 Baltimore Street, Nutley, New Jersey, with a secondary office in Fort Myers, Florida. Founded approximately 35 years ago, the company purchases distressed, damaged, abandoned, bankrupt, and over-run merchandise — including apparel, electronics, food, canned goods, steel, textiles, chemicals, and raw materials — and resells it to recover value. Its core customers are insurance carriers and steamship/shipping operators who require salvage services to offset claims, clear damaged containers, and dispose of abandoned cargo with accumulated demurrage charges.

The company's service portfolio spans the full salvage workflow: product removal from damaged containers and warehouses; secure transportation and warehousing; detailed inventory itemization; reconditioning; sort and segregation; disposal at EPA-approved waste facilities; marine salvage; inland salvage for commercial property losses from flood, storm, or fire; and handling of bankrupt estate merchandise. There is no proprietary technology platform; operations are physical and labor-driven, reliant on warehousing infrastructure, EPA-compliant disposal relationships, and domain expertise built over three decades.

Riverside generates revenue primarily through a transaction-fee model — earning the spread between the purchase price of distressed inventory and its resale proceeds — supplemented by fees for professional salvage services rendered to insurance and shipping clients. Sales are direct and executive-led (President Joseph M. Cricco, VP Sales Joseph C. Cricco, VP Leonard Corbosiero, Traffic Manager Lillian Weegar), with no public pricing, no digital marketing channels beyond a basic website and 'Sell Us' form, and no disclosed revenue or financial metrics. The company is privately held with no institutional investors, no funding history, no M&A activity, and no public-market presence.

Name

salvage

Legal name

Riverside Trading and Salvage Inc.

Website

https://riversidetradinginc.com

Company type

Private

Operating status

Operating

Short description

Riverside Trading and Salvage is a family-owned, 35-year-old salvage merchandise buyer and service provider in Nutley, NJ, purchasing and reselling damaged, abandoned, and distressed cargo for insurance carriers and steamship/shipping operators.

Ownership category

akta.pro rank

Product category

Marine and Inland Cargo Salvage Services

NAICS

Marine Cargo Handling (48832)

SIC

Wholesale-Misc Durable Goods (5090)

akta.pro primary industry

Cargo Salvage & Lightering (Cargo Transfer, Stabilization) (IMAJANAE)

akta.pro secondary industries

Asset Recovery & Decommissioning (Derelict Vessels, Abandoned Property) (IMAJANAI), Salvage, Total Loss & Insurance Auction Services (TLABAKAH)

Keywords

• Marine cargo salvage
• Distressed merchandise disposition
• Inventory liquidation services
• Commercial cargo disposal
• Salvage purchasing

Headquarters

HQ city

Nutley

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure

Revenue model

1. Salvage Merchandise Purchasing and Resale: The company purchases salvage merchandise including damaged cargo, close-outs, over-runs, bankruptcies, and abandoned cargo, then resells these goods to recover maximum value. Revenue is generated through the margin between purchase price of distressed inventory and resale proceeds.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

Riverside Trading and Salvage purchases and disposes of salvage merchandise and provides marine salvage, inland salvage, product removal, inventory services, reconditioning, sort/segregation, disposal, and warehousing for damaged, distressed, abandoned, bankrupt, and fire/flood-loss commercial cargo. Its primary customers are insurance companies and the steamship/shipping industries that need to recover value or clear liability from compromised freight.

Product overview

Riverside Trading and Salvage is a physical salvage and trading company serving the insurance and steamship industries for over 35 years. The company operates as a single unified service offering focused on purchasing and managing damaged, abandoned, or surplus merchandise. The portfolio includes merchandise purchasing services (salvage, close-outs, over-runs, bankruptcies, abandoned cargo) complemented by professional services (product removal, inventory services, marine salvage, inland salvage, disposal, warehousing, and related logistics). The company specializes in handling apparel, electronics, food, canned goods, spices, commodities, general merchandise, paper, steel, pipe, building materials, hard goods, tools, textiles, plastics & resins, chemicals, and raw materials.

Differentiator

Problem solved

Functional benefit

Products and services

• Marine Salvage Marine salvage services for damaged and distressed commercial cargo originating from ocean-going and steamship operations, serving insurance companies and steamship/shipping industry clients.
• Inland Salvage Inland salvage services for damaged and distressed commercial cargo moving through overland freight and logistics channels, serving insurance companies and shipping industry clients.
• Product Removal Removal of damaged, distressed, or unwanted product from customer sites, terminals, and warehouses for insurance and shipping industry clients.
• Inventory Services Inventory services that support the receipt, counting, and management of damaged or distressed commercial cargo for insurance and shipping clients.
• Reconditioning Reconditioning services to restore salvageable damaged or distressed cargo to a marketable condition on behalf of insurance and shipping industry clients.
• Sort and Segregation Sort and segregation services that separate damaged, distressed, and mixed commercial cargo into disposition-appropriate categories for insurance and shipping clients.
• Disposal Final disposal services for damaged, distressed, or non-salvageable commercial cargo that cannot be reconditioned or remarketed.
• Warehousing Warehousing services providing secure storage for damaged, distressed, abandoned, bankrupt, or fire/flood-loss commercial cargo at the company's Nutley, NJ and Fort Myers, FL facilities.
• Abandoned Containers Handling Handling and disposition of abandoned shipping containers and their contents on behalf of steamship/shipping industry and related clients.
• Bankruptcies Inventory Disposition Disposition of inventory from bankrupt consignees and estates, including removal, reconditioning, warehousing, and disposal.
• Fire and Flood Loss Disposition Disposition services for commercial cargo impacted by fire and flood losses, including removal, reconditioning, warehousing, and disposal for insurance clients.
• Salvage Purchasing Outright purchase of salvage merchandise and distressed commercial cargo from insurance carriers, shipowners, and other holders, after which Riverside assumes responsibility for disposition.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Copart: Public online salvage vehicle auctioneer; operates a marketplace for distressed and total-loss merchandise similar to Riverside's resale model for damaged cargo. While Copart focuses on vehicles, the underlying business model of purchasing distressed assets at salvage prices and reselling to maximize recovery is closely aligned.
• Insurance Auto Auctions (IAA): Salvage vehicle auction company serving the insurance industry — Riverside's primary customer segment. Comparable as a salvage-focused intermediary purchasing distressed merchandise from insurers and reselling to recover value.
• Liquidity Services: Operates marketplaces for surplus and salvage merchandise including bankruptcies, close-outs, and government over-runs. Highly comparable to Riverside's merchandise purchasing service covering bankruptcies, close-outs, over-runs, and abandoned cargo.
• Belfor: Global commercial property disaster recovery and restoration company. Directly comparable to Riverside's inland salvage service line covering flood, fire, and storm losses to commercial property.
• Servpro: Commercial and residential fire and water damage restoration franchise network. Overlaps with Riverside's fire loss, flood loss, and inland salvage service offerings for commercial property damage.
• Resolve Marine Group: Marine salvage, wreck removal, and emergency response company. Directly comparable to Riverside's marine salvage service line addressing cargo damaged in transit and marine casualty response.
• Donjon Marine: Provider of marine salvage, wreck removal, and heavy lift services on the U.S. East Coast. Comparable to Riverside on the marine salvage and cargo recovery side, particularly given Riverside's NJ/Florida footprint.
• Titan Salvage: Marine salvage and wreck removal company operating in the Americas. Direct overlap with Riverside's marine salvage service line addressing damaged cargo and vessels.

Broad incumbents

• Smit Salvage (Boskalis): Global leader in marine salvage and wreck removal as part of Royal Boskalis Westminster. Operates at far greater scale and global scope than Riverside, but addresses the same marine salvage category.

Emerging players

• Government Liquidation: Auctioneer of surplus and distressed government merchandise including bankrupt inventory. Comparable business model to Riverside's salvage merchandise purchase-and-resale approach, though focused on government sources.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about salvage