The UK operation based in Tavistock in West Devon was one of the town’s last manufacturing companies, which at its height employed more than 150 people. Although thriving in the UK, the US operation was not faring well and the company had to declare voluntary insolvency.

SIA Group was instructed by FRP Advisory to conduct the asset disposal for Superwinch’s UK operation.

A highly specialised and researched online auction was conducted by SIA Group. 566 items were sold, including forklifts, overhead cranes, freestanding gantries, hydraulic power packs, foam packing machines, winch test rigs and assembly stations, manual heavy presses, workbenches and steel racking.

Luke Wilson, Assistant Manager, Restructuring Advisory, FRP Advisory, said: “SIA provided assistance from day one of the appointment of Administrators’ in order to secure and value the assets of the Company. Their assistance to the Administrators and their staff during the trading perio was invaluable as they sought to maximise realisations from the significant, bespoke parts stock, held by the company. Their orderly disposal of the remaining stock and assets was conducted efficiently and effectively, and we were very satisfied with the end results.”

Kevin Counihan, Head of London Restructuring, SIA Group, said: “Our ability to access highly specialist worldwide markets is second to none and can make all the difference to a successful disposal. Furthermore, time is of the essence in a disposal of this kind and our ability to go to market at speed is one of the key attributes that makes SIA Group a first port of call in any insolvency situation with a strong inventory of assets.”