Most organizations must at some point face the challenge of closing a facility. Whether these closures occur because of mergers and acquisitions, consolidations, or some other event, they’re bound to result in surplus assets and the need to sell them.
Through a proven sales approach, your organization can turn surplus facility assets into maximum recovery. Read on to see how an electronics manufacturer did just that with the help of Liquidity Services.
Background
Our client, a leading electronics manufacturing services company, needed to close a facility that manufactured parts for a well-known tablet brand. The company needed a partner to sell nearly 2,000 items and 450 high-quality, late-model CNC machine tool assets,. Having successfully partnered with Liquidity Services on similar projects before, the company selected us to swiftly maximize recovery for its assets, while keeping to a relatively tight timeline of six months and handling all aspects of the sale, including asset removal and export controls compliance.
How We Helped
We sent a multinational team to audit the assets and collect key information used to “lot” them for sale, completing this process in just two weeks. Next, we selected the appropriate method for selling the assets. Liquidity Services determined a combination of online auction and private treaty sale methods – a multichannel approach many of our competitors cannot offer – would optimize recovery while expediting the sale. We drew targeted buyers to these sales through a global marketing campaign that included broadcast email, online advertising, social media, and telemarketing promotions.
Liquidity Services handled every aspect of the sale, from risk mitigation to asset removal. We vetted buyers by screening them against over 200 restricted-party lists. We also ensured all items were transferred across borders in compliance with all export controls considerations. Our dedicated buyer customer support team made sure that buyers completed transactions as well as dismantled and compliantly removed their assets, within the client’s timeline.
Auction Results
- $15 million recovered for assets within tight six-month timeline
- 30,000 page views from nearly 100 buyers worldwide
- 450 assets lotted, sold, and safely and compliantly removed from client’s site
Join our Next Auction
Want to achieve results like this? Join our next auction and start turning your electronics manufacturing or other surplus into cash.
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