BPI secures maximum returns for Taurus Tools with retirement asset disposal solutions
The decision to retire is a significant milestone for any business owner. It also comes with various challenges, including the need to efficiently wind down operations and maximise returns on assets. This is where BPI, asset disposal specialists, can assist by providing retirement asset disposal solutions.
Taurus Tools Ltd. a specialist in pipework equipment servicing and parts supply, recently faced this situation. After years of successful operation, the owner had decided to embrace retirement, and BPI was on hand to deliver a smooth industrial asset disposal service.
The challenge
As with any business transition, retirement for Taurus Tools wasn’t a case of simply closing the doors. Careful planning was required to achieve a successful outcome.
Firstly, selling a large volume of specialised pipework equipment meant finding the right buyers to secure fair market value.
Secondly, maximising the return on these sales was crucial to supplementing the owner’s retirement income.
Finally, handling the sale process while also preparing for retirement added time constraints, which meant that the whole process needed to be carefully managed by retirement asset disposal specialists to avoid delays.
The asset disposal solution
Taurus Tools had been a valued BPI customer for over seven years, both purchasing equipment and contributing their considerable expertise to BPI’s auctions. This existing relationship helped to ensure a smooth and stress-free process for the retirement sale. BPI handled everything, from comprehensive asset valuation and cataloguing, to facilitating the online auction itself, ensuring successful retirement asset disposal solutions
A wide range of good quality, branded equipment was available in the auction, including Ridgid pipe cutters and threaders, Rothenberger pipe threaders, Record pipe wrenches, racking, Makita and Clarke air compressors, transformers, tools, and a 2009 Ford Transit van.
The results of retirement asset disposal solutions
Of the 350 lots, only 10 remained unsold, making the auction a resounding success, and generating significant value for Taurus Tools.
A spokesperson from Taurus Tools, said:
‘The decision to retire was a big one. But thanks to BPI, the process of selling the equipment and liquidating our assets was incredibly smooth. They handled everything with great professionalism, allowing us to focus on our future. The auction results were fantastic, and we’re very happy to have been able to maximise our returns.’
Jamie Senior, Account Manager at BPI, added:
‘At BPI, we understand the complexities of business transitions, particularly those involving retirement. Our long-standing relationship with Taurus Tools allowed us to tailor a solution that met their specific needs. By showcasing their well-maintained, sought-after equipment to a wide audience of potential buyers, we were able to achieve an exceptional outcome.’
Taurus Tools’ successful auction with BPI demonstrates the power of planning, professional expertise and great knowledge of asset disposal during retirement. By partnering with asset disposal specialists, like BPI, businesses can navigate the transition smoothly, and approach retirement with greater confidence, knowing they’ve maximised returns on their assets.
Get in touch with our retirement asset disposal specialists today.
