Success Story

Oregon Tool

Lots
0
Sales Total
$ 0 M+
Bidders
0
Days
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SQ. FT.
0

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.

Oregon Tool Inc., a Portland, Oregon-based manufacturer of professional grade cutting tools and equipment, decided to close down operations of their Kansas City, Missouri manufacturing plant. In addition to the removal of all remaining assets, they also planned to sell the building itself so they were looking for a partner who had the expertise and experience necessary to successfully complete the project in a timely manner and ensure a seamless process. CIA Industrial teamed up with Myron Bowling Auctioneers to conduct a two-day live webcast auction featuring Aida Gap Frame Presses, Die Handlers, Robots, CNC Machinery, Complete Toolroom, EDM’s, Ovens, Full Lab and Inspection Department, Steel Coil Inventory, MRO and Plant Support + Real Estate.

Process At a Glance

6.4.24

COMPANY ANNOUNCES CLOSURE OF THEIR NORTHEAST KANSAS CITY, MISSOURI MANUFACTURING PLANT

8.9.24

CIA HAS INITIAL CONVERSATION WITH REPRESENTATIVE ABOUT GOALS AND OPPORTUNITIES

8.29.24

SITE VISIT AND ASSET EVALUATION

10.8.24

COMPANY SIGNS CONTRACT AWARDING CIA THE PROJECT

10.10.24

AUCTION ADVERTISING BEGINS

10.25.24

SITE PREPARATION AND SETUP BEGINS

11.11.24

CIA PR NEWSWIRE RELEASE

12.3.24

Equipment Inspection Day

12.4.24 & 12.5.24

Live WEbcast Auction Days

3.1.25

Project Completed

Outcome

CIA conducted a large two-day live webcast auction with 813 lots across the manufacturing plant spanning a total of 90,000 sq. ft. The project needed to be completed on time with all remaining assets removed due to the building sale. Large stamping presses packed tightly next to each other made removal complex, but our team was able to ensure efficiency and a successful completion through clear communication and meticulous scheduling. The two-day auction drew in 440 unique bidders and totaled $1.8M+ in sales.

We are extremely satisfied with our decision to partner with CIA Industrial. We were quickly impressed by their manpower, professionalism, and ability to keep the project moving forward. Their communication was excellent, and they followed through on every request we made.

– Dave Parrish

SVP

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