General Motors Delphi Division– Anderson, Indiana
Addressing Security Issues
General Motors Delphi Division is the largest plastics injection molding operation in the world. Not surprisingly, access to this General Motor’s plant is tightly controlled. At the Anderson plant, Delphi wanted to create one large tool and die shop out of two smaller ones. This created some surplus machinery.
The surplus machinery was located in very sensitive areas. In addition, there were other individual pieces of equipment scattered throughout the complex, which Delphi had also decided to sell. Finally, there was a large warehouse that was scheduled for demolition. This contained hundreds of additional surplus items.
All auction attendees were directed to the warehouse to sign in and begin the inspection. We arranged a tour bus to carry bidders from the warehouse to the main plant. The bidders were taken to a specific entrance where they were met by Myron Bowling employees and escorted to the auction area. This procedure was followed on both the inspection and the auction day.
Sunbeam Products, Inc– 12 locations
Many Locations with a Limited Timeline
Sunbeam Products, Inc. had fallen on hard times when the corporation was purchased by a group of investors. The investors hired the legendary Al Dunlap to reorganize the company and make it profitable.
Twelve plants either needed to be closed or had surplus inventory and/or machinery that needed to be turned into cash. The twelve plants were located in seven states and Mexico. The job had to be finished in six weeks.
Sunbeam cooperated completely. They aided in shipping surplus machinery and equipment to the closest designated auction site. This reduced the number of auctions from twelve to six. We kept our people working seven days a week for over a month. Everything was completed on time as planned.
Liddell Trailers, LLC– Springville, Alabama
The Value of Intellectual Property
Liddell Trailers, LLC of Springville, Alabama was started by Mitch Liddell in 1980. He ran the company for almost 30 years, manufacturing lowboy heavy haul trailers. For a few years after his death, his wife continued to run the company. But in 2010, she wanted to transition herself from the business and hired a broker to sell it.
Myron Bowling Auctioneers investigated the business opportunity. The Liddell name was well known and the company had a solid reputation for delivering excellent quality trailers to the transportation industry. After conducting its due diligence, Myron Bowling Auctioneers purchased the full assets of the company including the manufacturing facility, work-in-process, trailer decks and components, raw materials inventory, office equipment, furniture and the intellectual property.
Myron Bowling conducted a successful auction selling all assets without reserve. It is important to note that the intellectual property made up almost 30% of the revenue of the overall sale. The other positive outcome of this successful liquidation is the fact that Liddell brand trailers are still being manufactured and marketed today.