BACKGROUND :
Legacy Pharmaceuticals was a Swiss contract manufacturer and service provider (CMO) specializing in fill/finish of sterile and semi-solid drug products for the global pharmaceutical industry, located in Birsfelden (Basel area) Switzerland. Due to the loss of their largest customer they ended up into bankruptcy. Hilco purchased their assets from the bankruptcy estate and signed a lease agreement with the landlord, a Real Estate fund from the UBS bank. All assets were taken over including some of the raw material and packaging formats.
TYPE OF SALE :
We tried to sell the complete facility for a period of time, however as we had to remove all Machinery & Equipment within a 9 months window, we focused on selling filling and packaging lines as well as complete processes. In addition we organized a series of Online Auction Sales, which took place in June-September 2021.
EQUIPMENT :
Multiple filling and packaging lines for different formats ranging from bottles to blister. Processing equipment included, fluid bed dryers, mixers, reactors. And very large amount of auxiliary and support assets as well as a complete functioning lab.
TRANSACTION :
The bankruptcy estate sold us the Equipment outright. We managed the entire removal process, from getting the power back- up, securing the site, decontaminating all equipment, final removal and clean-up before we handed over the Buildings to the owner.
HIGHLIGHT :
We managed to sell large packages to several buyers across the world but mainly focused in the Middle East and Eastern Europe.
CONCLUSION :
High profile liquidation project in the pharmaceutical space with a great result for all stakeholders involved. The buyers came from all over the world and we managed the dismantling and final removal process in accordance the conditions set out by the real estate owner
