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Success Story

Industrial Truck & Crane

Lots
0
Sales Total
$ 0 M+
Bidders
0
Days
0
Acres
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.

Industrial Truck & Crane specialized in large-capacity crane rental and rigging services and had built a strong business presence throughout northwestern Pennsylvania. When CIA Industrial made initial contact, the husband and wife owners weren’t quite ready to close the business and hoped to find a buyer to continue their operations. About 5 months after our initial visit, they decided to have us back to talk through a new auction proposal and contract. This auction featured a variety of truck cranes, boom and scissor lifts, telehandlers, heavy haul tractors, trailers, and contractor tools and equipment.

Process At a Glance

11.30.22

COMPANY FOUND VIA BUSINESS BROKER

Industrial Truck & Crane were trying to sell their business as an ongoing business for over a year via a business broker. We came across the business about 6 months into the listing.

12.14.22

INITIAL SITE VISIT

The CIA team visits the rental yard and does a thorough walkthrough taking notes and photos and regroups internally to review appraised values for machinery and equipment.

1.6.23

CIA SUBMITS PROPOSAL

CIA submits a guaranteed auction proposal for review.

2.2.23

OWNERS RESPOND TO PROPOSAL

Owners decide they are not ready to sell at auction and continue to market as an ongoing business.

6.3.23

BUSINESS BROKER CONTACTS CIA

The business broker reaches back out to inform CIA the owners are ready to further discuss a revised proposal and auction contract.

6.21.23

CIA SUBMITS PROPOSAL

After revisiting the site and assessing all equipment, CIA submits a revised guaranteed auction proposal.

7.18.23

CONTRACT SIGNED

Contract is signed by both parties and owners request two months to finish up current business.

7.25.23

AUCTION OFFICIALLY ANNOUNCED

Auction is posted to website with advertising and tentative date of late September/early October.

8.3.23 – 9.5.23

SITE ASSESSMENT & PREPARATION

CIA staff members spend 2 weeks assessing the site and equipment, then begin organizing, cataloging and photographing equipment in preparation for auction.

Outcome

Our attention to detail, responsiveness, and dedication to being there every step of the way no only resulted in a successful auction, but gave our clients the confidence they needed at a time when they needed it most. The one-day live webcast auction attracted 726 bidders, buyers from the USA, Mexico, Bahamas, Canada, and ten other countries, and generated a sales total of $3.5M+.

“With their expertise and constant communication, the CIA team guided us through a challenging process with precision and care. Their attention to detail and knowledge turned a difficult situation into a successful sale, making the experience as smooth and stress-free as possible.”

– Soni Graff

Owner

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