After significant efforts to find a going concern buyer, the team moved forward with an orderly sales process for the machinery, followed by three auction events. Tiger worked closely with the Bank’s workout group to wind down the company and to marshal over 1,200 assets from multiple states and over 200 customer locations.

30% of the assets were sold on an orderly basis and completed in parallel with auction set-up and marketing initiatives, achieving overall higher recoveries.

The team marketed directly to the construction industry as well as equipment dealers. Over 360 buyers from 3 countries and 33 states participated in the orderly sales and auction events.

Tiger worked with the seller to achieve bulk sales, orderly sales, and auction sales of over 500 pieces of equipment from the Company’s location in New York, New Jersey, Pennsylvania, and Delaware. All sales were completed in less than 8 weeks.

Tiger sold 60% of the assets on an orderly basis, which was completed in parallel with the auction set-up and marketing, and achieved higher recoveries than what could be realized at auction.

The strategic asset disposition plan included multiple phases to ensure the prices in the Audio-Video marketplace would remain stable. All gear was moved to two secure warehouses for sale preparation. Prospective buyers had the opportunity to inspect, test and have questions answered by seasoned AV specialists.

Private treaty sales allowed the rental industry to select gear that could be immedi-ately utilized. Multiple auctions were then conducted to attract global bidders.

Tiger conducted a mix of orderly and auction sales of the assets of the company, which included service rigs, deck, pump, and auxiliary trucks from manufacturers such as NOV, Crane Carrier, Cardwell, Franks, Irontech, Rykar, MWS, Internation-al, Western Star, Freight-liner, and Kenworth.

The team made absolutely sure all options had been explored with respect to
finding a potential turnkey, or going-concern buyer, before going to auction. After
significant efforts, no buyer emerged, and the team moved forward with an intentional,
four-month orderly process prior to a final auction for the individual assets,
resulting in a higher net recovery for the client than in a straight auction scenario.

Tiger Liquidity Services Biopharma Partners (TLSBP) marketed and sold all of the company’s assets, including inventory, machinery and equipment, and real estate in two states.

Also marketed and sold was a 16.4-acre lot in Kannapolis, N.C. Product Quest’s former manufacturing plant included about 150,000 square feet of usable area, with dedicated warehouse space and laboratories, as well as filling and kitting lines and batching suites.

Tiger conducted a live online auction of the complete brewing operations, including
a pristine, 125-barrel-per-day brew house, a Krones/Pearson bottling line, an
automatic keg washing and filling system, a laboratory and tasting room, and furniture.

Tiger marshaled assets from multiple location across the US, bringing trucks and trailers to two storage locations in Oklahoma and Pennsylvania, respectively.

Tiger also found and collected 16 different assets from previously unknown loca-tions, then conducted an online-only offering of late-model Kenworth, Peterbilt, and other oilfield tractor trucks and crude oil tanker trailers formerly owned by S&S Heavy Haul LLC.

Tiger determined that a two-tiered strategic liquidation and auction sale plan would be created to maintain price sustainability and ensure that the market would not be flooded with equipment.

All gear was catalogued and priced out to allow access to North American and in-ternational buying markets. A four-day online auction took place, providing a rare opportunity for rental and production companies, houses of worship, universities and other end-users to add to their existing inventory.

Tiger placed a competitive market bid for the company’s Machinery and Equipment assets at five plants and 19 ranch/farm locations in California.

A live online auction was then held for more than 200 units of well-maintained roll-ing stock and farm equipment — as new as 2016 — including truck and farm trac-tors, poultry haulers, feed trailers, water trucks, pickup trucks and more.

Tiger followed that sale with a separate, two-day live online auction for Zacky Farms’ poultry processing operations including slaughter, whole bird packaging, boning, and hot dog processing facilities.