Thursday, May 25, 2017

Assets from Harris Silver & Sons, Inc. Sold in Bulk

Loeb Winternitz Industrial Auctioneers Successfully Sells the Assets from an Illinois Scrap Processor to a Strategic Buyer

Loeb Winternitz Industrial Auctioneers announced they have facilitated the bulk sale of the assets located at Harris Silver & Sons, Inc. to Alter Trading Corporation, headquartered in St. Louis, MO. As a result the auction originally scheduled for Tuesday, May 16th was canceled.

“We are happy that we could provide added value in the bulk sale of the Harris Silver assets, stated Charles J. Winternitz, President of Loeb Winternitz Industrial Auctioneers. “With the scrap market improving, and the location of this yard, we felt there was an opportunity for a bulk sale to occur.”

Loeb Winternitz simultaneously worked with the Assignee for the Benefit of Creditors, its Attorney and the Secured Creditor to negotiate the bulk sale of the assets.

Located in Belvidere, Illinois, Harris Silver & Sons provided scrap processing of non-ferrous metal, paper, and plastic inventory since 1955, servicing the Northern Illinois and Southern Wisconsin regions.

About Loeb Winternitz
Loeb Winternitz Industrial Auctioneers, a subsidiary of Loeb, is a full service auction division specializing in Webcast and Online Only auction asset disposition services. Combining 250 years of family business values between Loeb and Winternitz Auctions, our knowledge extends across many different industries in which we currently sell, appraise and finance machinery and equipment. For more information, please visit: www.loebwinternitz.com

Thursday, February 23, 2017

Paramount Machining Solutions Sold as Ongoing Concern

Loeb Winternitz Industrial Auctioneers and Yellen Partners Successfully Sell Assets from a Michigan CNC Precision Prototype Facility to a Strategic Buyer


Loeb Winternitz Industrial Auctioneers and Yellen Partners announced this week that they have facilitated the sale of the assets of Paramount Machining Solutions as a complete operation, to Global Manufacturing Industries. As a result, any scheduled auctions have been cancelled.

“It took a number of months to secure this transaction, but we are all excited the sale finally closed. This transaction was a little more complicated as it involved the equipment, real estate, inventory, and receivables, but at the end of the day when a company such as Paramount becomes available, it’s great to complete a turn-key sale, especially when so many jobs could be saved,” stated Charles J. Winternitz, President of Loeb Winternitz Industrial Auctioneers.

Loeb Winternitz and Yellen Partners simultaneously worked with the Court appointed Receiver as seller, and GMI to negotiate the sale of the facility as a whole.

“All the professionals were great to work with on this transaction. From the Court appointed receiver, his attorney, the secured creditor, consultants, ownership, the buyer, and our sales teams, not to mention the patience of the Paramount customers,” said Brian Yellen, President of Yellen Partners. “Everyone’s efforts help to make this a successful acquisition.”

Located in Oak Park, MI, Paramount provided precision CNC machining & prototype services for over 66 years to the automotive, industrial and aftermarket industries. Global Manufacturing Industries will be continuing operations in the facility under the Paramount Precision Products branded name.


About Loeb Winternitz & Loeb



Loeb Winternitz Industrial Auctioneers, a subsidiary of Loeb, is a full service auction division specializing in Webcast and Online Only auction asset disposition services. Combining 250 years of family business values between Loeb and Winternitz Auctions, our knowledge extends across many different industries in which we currently sell, appraise and finance machinery and equipment. For more information, please visit: www.loebwinternitz.com



About Yellen Partners LLC



Yellen Partners, LLC is a specialized, hands-on provider of asset monetization solutions focused on the acquisition and disposition of retail and wholesale inventories, as well as healthcare and industrial machinery and equipment, for businesses seeking to continue operations or sell assets as a going concern. Core activities include sourcing, acquiring and monetizing distressed and other surplus assets through transaction strategies, including, but not limited to, retail store closings, orderly liquidations of wholesale inventories and specialty assets, as well as private treaty sales and on-site and on-line auctions. For more information, visit: www.yellenpartners.com.


Thursday, May 12, 2016

Assets of Balmoral Racing Club, Inc. and Maywood Park Sold Through Bankruptcy Sale

Loeb Winternitz & Yellen Partners Complete the Piecemeal Auction of Maywood Park While Balmoral Racing Club was Sold in Bulk

Loeb Winternitz Industrial Auctioneers and Yellen Partners announce the completion of the Maywood Park personal property auction, and the Court approval for the sale in its entirety of the Balmoral Racing Club real estate and personal property assets after a decision by the Bankruptcy Court, Northern District of IL.

Two last-minute bulk purchase offers were submitted directly to the Debtors during the Balmoral Park auction on Wednesday, April 27th. The piecemeal auction was adjourned upon conclusion pending a decision by the Court, which was handed down on Wednesday, May 4th.

The accepted offer was made by HITS, Inc., a special events management company focusing on producing hunter/jumper horse shows, and triathlon/running races throughout the United States, with the expressed interest in utilizing the facility for equestrian events.

"I'm proud of the efforts we put forth related to both Race Tracks," stated Charles J. Winternitz, president of Loeb Winternitz Industrial Auctioneers. "Almost 1,000 bidders participated in the auctions, and the piecemeal sale generated recovery values well above pre-auction estimates. The bulk sale of the Balmoral Racing Club assets got a little intense, but the result was worth it for the creditors, new job creation, and the town of Crete. We wish HITS, Inc. much success."

Working in partnership, Loeb Winternitz and Yellen Partners were able to fully prepare the sites and complete the auctions while simultaneously allowing the discussions among bulk bidders, the debtors, and the creditors to take place.

"We are proud to have participated in the sale of these venerable Chicago landmarks and especially happy to have helped reach such a good result for interested parties," said Brian Yellen, president of Yellen Partners.

Balmoral Park, located just south of Crete, Illinois, ceased live horse racing in December of 2015. Originally Lincoln Fields from 1926 to 1968 hosting thoroughbred racing, and subsequently, Balmoral Park hosting harness racing. Maywood Park, located in Melrose Park, also held its last races in Fall 2015 after nearly 70 years of operation. Both tracks filed chapter 11 bankruptcy after judgment was entered against the tracks in a suit brought by four riverboat casinos. During the course of the chapter 11 cases, the Illinois Racing Board awarded harness racing dates exclusively to Hawthorn Race Course, leaving Maywood and Balmoral with no licenses to race in 2016.

The bulk offers were only made on the Balmoral Park facility and do not include the assets of Maywood Park Trotting Association, which were sold via online auction on April 28th.

The auctions were held by order of the U.S. Bankruptcy Court, Northern District of IL, Eastern Division, Case Numbers: 14-45711 - Assets of Balmoral Park Racing Club, Inc. and 14-45718 - Assets of Maywood Park Trotting Association, Inc.


About Loeb Winternitz

Loeb Winternitz Industrial Auctioneers, a subsidiary of Loeb, is a full service auction division specializing in Webcast and Online Only auction asset disposition services. Combining 250 years of family business values between Loeb and Winternitz Auctions, our knowledge extends across many different industries in which we currently sell, appraise and finance machinery and equipment. For more information, please visit: www.loebwinternitz.com 

About Yellen Partners, LLC

Yellen Partners, LLC is a specialized, hands-on provider of asset monetization solutions focused on the acquisition and disposition of retail and wholesale inventories, as well as healthcare and industrial machinery and equipment, for businesses seeking to continue operations or sell assets as a going concern. Core activities include sourcing, acquiring and monetizing distressed and other surplus assets through transaction strategies, including, but not limited to, retail store closings, orderly liquidations of wholesale inventories and specialty assets, as well as private treaty sales and on-site and on-line auctions. For more information, visit: www.yellenpartners.com.

Wednesday, April 6, 2016

Asset from Balmoral Racing Club, Inc. and Maywood Park Trotting Association, Inc. to be Sold at Auction

Loeb Winternitz Industrial Auctioneers and Yellen Partners to Conduct a Two Day, Online Only Auction April 27 and April 28

Loeb Winternitz Industrial Auctioneers and Yellen Partners announced this week that they will be conducting a two day auction to liquidate the assets from Balmoral Racing Club, Inc. and Maywood Park Trotting Association, Inc. The auction will take place online April 27 and 28.

"We are honored to be retained to manage the sale of the personal property assets of these two famous racing venues," stated Charles J. Winternitz, president of Loeb Winternitz Industrial Auctioneers. "The auction includes all the ground maintenance equipment, vehicles, and many memorabilia items from throughout the decades. The partnership between Loeb Winternitz and Yellen Partners is the needed combination to recover the highest value for the assets."

Principals from both firms worked together previously to liquidate the former Sportsman's Park also known as Chicago Motor Speedway.

"We look forward to offering the public an opportunity to purchase a piece of history from these two parks, in addition to machinery and equipment at a quality value," said Brian Yellen, president of Yellen Partners.

Balmoral Park, located just south of Crete, Illinois, closed in December of 2015. Originally Lincoln Fields from 1926 to 1968 hosting thoroughbred racing, and subsequently, Balmoral Park hosting Harness Racing. Maywood Park, located in Melrose Park, also held its last races in late 2015 after nearly 70 years of operation. Both tracks were shuttered after judgment was passed against the owners in a suit brought by the casinos, after a decision by the Illinois Racing Board to award racing dates exclusively to Hawthorn Race Course, and subsequent bankruptcy.

The auctions are being held by order of the Honorable Donald R. Cassling, for the U.S. Bankruptcy Court, Northern District of IL, Eastern Division, Case Numbers: 14-45711 - Assets of Balmoral Park Racing Club, Inc. and 14-45718 - Assets of Maywood Park Trotting Association, Inc.

About Yellen Partners, LLC

Yellen Partners, LLC is a specialized, hands-on provider of asset monetization solutions focused on the acquisition and disposition of retail and wholesale inventories, as well as healthcare and industrial machinery and equipment, for businesses seeking to continue operations or sell assets as a going concern. Core activities include sourcing, acquiring and monetizing distressed and other surplus assets through transaction strategies, including, but not limited to, retail store closings, orderly liquidations of wholesale inventories and specialty assets, as well as private treaty sales and on-site and on-line auctions. For more information, visit: www.yellenpartners.com.

About Loeb Winternitz & Loeb

Loeb Winternitz Industrial Auctioneers, a subsidiary of Loeb, is a full service auction division specializing in Webcast and Online Only auction asset disposition services. Combining 250 years of family business values between Loeb and Winternitz Auctions, our knowledge extends across many different industries in which we currently sell, appraise and finance machinery and equipment. For more information, please visit: www.loebwinternitz.com 

Monday, April 4, 2016

Wild Pea Hummous Facility Closure Online Only Auction - Lots begin closing online 5/3

Most New in 2015-2013 - Incredible Cup Filling & Dip Manufacturing Equipment

For more information about this sale, visit: http://www.loebequipment.com/showauction.aspx?auctionID=92872

Featured Equipment:

  • Modern Packaging Model SL1X2S S/S Inline 2 Lane Cup Filler
  • Modern Packaging Model SR8DC Rotary Cup Filler
  • Auto Labe Model 110S Auto Front, Back, and Top Pressure Sensitive Labeler
  • Robot Coupe Model Blixer45 S/S Vertical Cutter, Mixer, Food Processor
  • Videojet Model 1220 Single Head Inkjet Printer


Equipment from the following OEMs:
  • Modern Packaging
  • Robot Coupe
  • Auto Labe
  • Graco
  • Manitowoc
  • Videojet
  • Crown

Download the Wild Pea Asset Photo Collage
Download the Wild Pea Prelim. Asset List

Inspections: Anytime by appointment, contact Andy Barriga at (773) 496-5721 to schedule an inspection

Online Bidding Through: ProxiBid.com

Friday, March 11, 2016

Boboli Bakery Facility Online Only Auction - Lots begin closing online 4/21

Auction of Bakery Processing & Packaging Equipment Surplus to the Ongoing Operations of Boboli

For more information about this sale, visit: http://www.loebequipment.com/showauction.aspx?auctionID=92900

Featured Equipment:

  • Spiral Mixers
  • Chillers
  • Choppers
  • Depositors
  • Dumpers
  • Freezers
  • Ovens
  • Proofers
  • Rounders
  • Sheeters
  • Stuffers
  • Wrappers

Download the Boboli Surplus Asset Photo Collage
Download the Boboli Surplus Prelim. Asset List

Inspections: Anytime by appointment, contact Howard Newman at (773) 451-3662 to schedule an inspection

Online Bidding Through: ProxiBid.com

Wednesday, February 24, 2016

Trans-Industries of Indiana, Inc. Online Only Auction - Lots begin closing online 3/23

Manufacturer of Fabricated Metal Parts & Tubular Components Featuring: Stamping Presses, Tube Benders, Welders, CNC Lathe, Machine Tools, Material Handling, Vehicles, Etc.

For more information about this sale, visit: http://www.loebequipment.com/showauction.aspx?auctionID=92651 

Featured Equipment:

  • 2007 Sterling Tandem Axle Truck Tractor
  • Heller Sutherland 220-Ton Cap. Model MARK2-220 Gap Frame Press
  • Minster 160-Ton Cap. Model 50-6 ½-84 Straight Side, Double Crank Press
  • Verson 100-Ton Cap. Model B2-100-84-42 Straight Side, Double Crank Press
  • Bliss 100-Ton Cap. Model S2-100-72-36 Straight Side, Single Crank Press
  • Warco 75-Ton Cap. Straight Side, Double Crank Press
  • Bliss 60-Ton Model C-60 Back-Geared Press
  • Heim 55-Ton Cap. Model 5 GA-BG Back-Geared Single Point Gap Frame Press
  • Warco 75-Ton Cap. O.B.I. Press
  • Yoder 6-Station Roll Former
  • Bridgeport 18 in. 42 in. (approx.) Model EZ-Path SD CNC Lathe
  • RotoFinish/Spiratron 12 cu.ft. Cap. Model ST-12BCFB Vibratory Finisher
  • 18 in. Max. Radius Cap. Model SMV 100L 1C Table Top Heavy Duty Bender
  • Pines 2 in. No. 2 Horizontal Hydraulic Tube Bender
  • Pines No. 1-1/4 Horizontal Hydraulic Tube Bender
  • Curvitube B/40 Horizontal Tube Bender
  • Pines 1-1/2 in. No. 3T Vertical Hydraulic Tube Bender
  • (2) Pines 1-1/2 in. Cap, Model 3T Vertical Hydraulic Tube Bender
  • Dickey & Son Tube Swager
  • Bracker Orbital Riveter
  • Simasv CH Type 1340 Angle Bending Roll (2000)
  • Bendix/Cordax Model 1808 Coordinate Measuring Machine
  • Oliver 16 in. Model 395-DHMC Cut-Off Miter Saw, with Dust Collector
  • Eisele 16 in. Model VMSIII-8350 Cut-Off Miter Saw
  • Enco 2-HP Variable Speed Vertical Milling Machine
  • Cincinnati 2-HP Toolmaster Variable Speed Vertical Milling Machine
  • Precision 9 in. x 16 in. (approx.) Horizontal Band Saw
  • Boyar Schultz Surface Grinder
  • (3) Grinder/Polishers
  • Thermal Dynamics Cutmaster 39 Portable Plasma Cutting System
  • 2002 Ford E350 Super Duty Cargo Van
  • International 4700 DT 408 Single Axle Box Body Truck
  • Wabash 45 ft. Tandem Axle Dry Van Trailer
  • Manac Tandem Axle Dry Van Trailer
  • (2) Toyota Electric Fork Lifts, (1) 2,870 lb. Cap., (1) 2,600 lb. Cap.
  • Yale 5,000 lb. Cap LP fork Lift Truck
  • Quincy 15-HP Air Compressor
  • Kellogg-American 20-HP (approx.) Air Compressor
  • Plant Support Equipment
  • Large Quantity of Miscellaneous Assets

Download the Trans-Industry (IN) Asset Photo Collage
Download the Trans-Industry (IN) Category Asset List
Download the Trans-Industry (IN) Lot List

Inspections: Tuesday, March 22nd from 9AM-4PM EST, or earlier by appointment. Contact Charles Winternitz at (773) 496-5740 to schedule an inspection.

Online Bidding Through: ProxiBid.com

Charles Winternitz IN Auction License: AU09100100