M.A. Metal Resources, founded in 2020, primarily operated in the mining engineer industry with the engineering, accounting, research, and management services sector. The company recycled automotive shredder residue, which is the leftover material after a vehicle chassis is crushed. MAMR installed a sophisticated system which shredded and separated dozens of materials including copper, plastic, steel, aluminum and more which could then be sent out for recycling.
Unfortunately, the business model for MA Metal Resources was unsuccessful, and after a brief period of operating at a loss they were forced to shut down. The primary secured lender took possession and immediately hired Rosen Systems to help liquidate the collateral.
Rosen Systems determined that a well-publicized single day online auction was the best approach to generate excitement and maximize returns on a sale of this equipment. Due to the limited market for this type of equipment, RSI assembled a marketing campaign with global reach. There were several high-profile items which generated interest for the event and eventually high bids including (2) BPS Eddy Current Systems, (2) ERS Hammer Mills, (4) Guidetti Turbo Mills, and (2) CAT 950M Wheel Loaders.
The online auction was a success, generating almost $2 million (1.9MM) in gross proceeds, which exceeded pre-auction estimates. 192 bidders from 16 states and 4 countries participated. Following the auction, the bank was also able to list the clean real property and found a buyer within 3 months, allowing them to exit the deal.
2323 Langford St.
Dallas, TX 75208
Phone: (972) 248-2266
Fax: (972) 248-6887
info@rosensystems.com
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