The client is a leading global provider of manufacturing solutions, primarily serving the Medical Device, Aerospace & Defense, and other industrial markets.
The client contacted EquipNet in the middle of the year requesting asset management services for a full site closure. Equipment at this facility included 8-Axis Automatic Screw Machines, CNC Lathes and Milling Machines, Hydraulic Presses, Bar Feeders and Rotary Grinders, and Sanders. The site needed to be cleared out by January of the following year, so the client wished for an auction event for December to expedite the clearance. 344 assets were identified to be sold from the site, but the site continually redeployed some of these assets to other facilities. It was difficult to confirm a set date when listings could no longer be transferred to other facilities, causing the scope of the project to change over the weeks.
Using EquipNet’s Cascading Sales Model, the client was able to successfully close its facility and gain financial return from its surplus equipment.
•Project Management •Site Closure Management
•Onsite Inventory •ARMS
•Individual Asset Sales •Dedicated Live Auction Event
EquipNet helped the client successfully manage over 200 pieces of equipment within its desired clearance date and exceeded the minimum sales expectation, generating $231,000 in sales. Over 150 assets were sold while over 110 were redeployed.