Success Story

Kaman

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Sales Total
$ 0 K+
Bidders
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SQ. FT.
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Overview

Whether you’re downsizing, consolidating operations or closing up shop, you have a lot on the line. From emotional to financial pressures to tough expectations and critical timing. This is a moment when you need to have complete confidence that you can get the absolute most for your assets, and know you’re working with a partner who’s willing to go above and beyond to protect your interests.

Kaman Precision Products is a leader in the design and production of high-performance, precision non-contact position measuring systems, specializing in state-of-the-art technologies for government, industrial, and commercial markets. The management team at parent company, Kaman Corporation, approved a restructuring that would consolidate and transfer their Joint Programmable Fuze (JPF) production to Middletown, Connecticut. This would lead to the permanent closure of their Orlando, Florida manufacturing facility. As a government contractor, they needed a partner they could trust to handle the process professionally and confidentially. CIA Industrial was awarded the project and conducted a two-day online auction of lab grade assets including Laser Welders, Full-Service Lab with Environmental Chambers, Ovens & More, Explosive Storage Magazines, Complete Toolroom & Q.C. Department, Racking & Material Handling, Trucks and Shop & Support Equipment.

Process At a Glance

1.18.23

COMPANY ANNOUNCES RESTRUCTURING PLAN THAT WOULD LEAD TO PERMANENT CLOSURE OF THEIR ORLANDO, FLORIDA MANUFACTURING FACILITY

11.1.23

CIA HAS INITIAL CONVERSATION WITH REPRESENTATIVE ABOUT GOALS AND OPPORTUNITIES

12.5.23

SITE VISIT AND ASSET EVALUATION

1.11.24

COMPANY SIGNS CONTRACT AWARDING CIA THE PROJECT

1.15.24

AUCTION ADVERTISING BEGINS

2.1.24

SITE PREPARATION AND SETUP BEGINS

4.8.24

EQUIPMENT INSPECTION DAY

4.9.24 & 4.10.24

ONLINE AUCTION DAYS

5.15.24

Project Completed

Outcome

CIA conducted a two-day online auction with 633 lots across the production facility spanning a total of 99,000 sq. ft. Through our expertise and honest evaluation, we were able to show Kaman there was a market for what they viewed as outdated assets, and turned them into a net positive cash flow. The two-day auction drew in 331 unique bidders and totaled $450K+ in sales.

A top-notch team. The process was smooth, professional, andI’m extremely pleased with how everything turned out.

– Michael Slyne

Facilities Manager

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