Success Story

Bolttech Mannings

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Bolttech Mannings

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.

Bolttech Mannings was a leading diversified industrial service supplier for more than 35 years. The company had differentiated itself by providing the world’s most efficient full line of OEM industrial bolting tools, induction, combustion and resistance products. When they decided to exit their OEM manufacturing division to focus more on service and repair divisions, they reached out to CIA Industrial to discuss next steps. They ended up hiring us to conduct a Live Webcast auction to sell a variety of their metalworking and machining equipment.

Process At a Glance

8.1.23

INITIAL CONVERSATION

8.16.23

SITE VISIT & EVALUATION

8.18.23

PROPOSALS SUBMITTED

8.28.23

CONTRACT SIGNED

 9.1.23

ADVERTISING BEGINS

9.1.23 

SITE PREP AND SETUP BEGINS

9.20.23

PRESALE

10.2.23

INSPECTION DAY

10.3.23

AUCTION DAY

10.31.23

PROJECT COMPLETED

Outcome

CIA conducted a Live Webcast Auction featuring a variety of assets including Turning Centers, Horizontal Machining Centers, Vertical Machining Centers, Saws and CMMs. We were very hands-on throughout the entire process to ensure this transition period for Bolttech Mannings was as smooth and seamless as possible. Our effective marketing efforts attracted a buyer for a presale of machinery that netted over $500,000. The auction itself attracted 336 unique bidders and resulted in $1,267,415 total sales.

The auction process was flawless and the CIA Industrial team lived up to their 5-star rating. I wouldn’t hesitate to recommend them and will certainly use them again.

– David Hickey

Consultant

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