Xenterio GmbH, an EMS provider (Electric Manufacturing Services) from Offenburg, Germany entered into bankruptcy after scaling down its operations in the years before. The landlord took possession over the assets as the outstanding amount to them far exceeded the value of the remaining assets. We were brought in and successfully purchased the movable assets and inventory and supplied the Real Estate owner with a full stop solution.
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 6 months window we just ran out of time and decided to organize a series of Online Auction Sales, which took place in July 2014.
(5) complete Surface Mount Technology (SMD) assembly lines with over 24 Siemens placement machines. Large number of flying probe testers and a lot of Electronic Test & Measuring (ETM) equipment. In addition there was a large inventory of component stock.
The real estate owner 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.
We managed to sell complete SMD lines instead of single assets which lead to a higher recovery amount. We reached buyers globally and managed the removal process to the liking of the real estate owner.
This was a good experience, with a great result. The buyers were all enthusiastic about the quality of the equipment and the real estate owner was very pleased with the way we handled this transaction and especially with the way we cleaned the buildings, making it possible for them to relet to a new user of the facility fairly quickly.