The Challenge: Disposing of Business Assets

After decades of delivering precision engineering services, C&M Engineering, based in Bury, decided to wind down operations as its owner, Brian, prepared for retirement. Renowned for their expertise in fairground ride repairs, including projects at Blackpool Pleasure Beach, C&M Engineering had built a solid reputation over the years.

Faced with the challenge of efficiently closing the business and maximising financial returns, Brian initially considered selling the entire company. However, this option presented challenges, including a potentially lengthy and complex process that could take months or even years to complete. Instead, Brian opted for a more straightforward approach: an asset sale.

Brian reached out to BPI for help after hearing about their expertise in asset disposal through a mutual contact. What made BPI stand out was their ability to handle the entire process end-to-end, combining a dedicated sales and marketing team with their advanced 24/7 online auction platform.

The auction featured over 80 lots of high-quality machinery, including milling and drilling machines, tooling, measuring instruments, and other essential tools. With BPI’s extensive global database and targeted marketing strategies, Brian was confident they could attract a wide pool of potential buyers.

This streamlined asset disposal process offered a faster resolution, allowing Brian to maximise the value of his well-maintained equipment and add significantly to his retirement fund. By choosing BPI, Brian was able to achieve his goals efficiently and seamlessly, ensuring a successful transition to the next chapter of his life.

The Asset Disposal Solution

C&M Engineering was impressed by BPI’s proven track record of delivering fast and efficient asset sales, making BPI the ideal partner for their disposal needs.

BPI’s asset disposal solutions provide an efficient, time-sensitive approach, with machinery sales completed in as little as five weeks. Leveraging BPI’s extensive network of buyers, this method ensured C&M Engineering could maximise returns in a short timeframe.

To prepare for the sale, BPI’s team meticulously catalogued and photographed each lot within a single day, ensuring everything was ready for the online auction. Among the standout lots featured in this sale were:

• Colchester Mascot 1600 Lathe
• Colchester Triumph 2000 Lathe
• Lion 3VS Universal 3 Axis CNC Milling Machine
• KRV3000 Universal Milling Machine
• Harrison M300 Toolroom Lathe

The Auction Sale Results

The auction ran for just 13 days – a remarkable turnaround time for anyone looking to generate cash flow quickly and efficiently!

The final hammer total reached £25,000, approximately 40% more than the initial expectation.

This success was primarily due to the excellent quality and maintenance of the machinery, combined with BPI’s seamless sales and marketing efforts. Their robust marketing strategy, paired with an extensive global network of potential buyers, ensured a highly successful auction.

For C&M Engineering, opting for an asset sale was a logical choice given the efficiency and simplicity it offered, especially when closing a business within a tight timeframe. Many of BPI’s clients, like Brian, are often keen to finalise their exit as quickly as possible, and BPI ensured this process was smooth from start to finish.

BPI handled all collections within two days with their dedicated machine mover, ensuring that everything was completed in a timely manner.

Brian, owner of C&M Engineering Services, said:

“I’m very pleased with the outcome of the sale. The whole process from start to finish was flawless and exceeded my expectations. I would highly recommend people who are thinking of retiring or closing a business to consider an asset disposal route with BPI.”

Richard Travis, Sector Specialist at BPI, said:

“It was a pleasure to oversee this auction for Brian with such a well-maintained and presented workshop. I’m thrilled with the successful outcome and wish him all the best for the future.”