Monday, October 25, 2010

Tight Turnaround Secured Through Asset Intelligence

GoIndustry DoveBid has successfully completed another valuation of specialist paper manufacturing machinery and equipment, this time in the South West of England.

GoIndustry DoveBid was instructed by one of the top four UK accountancy firms.
The purpose of the valuation - Administrative Receivership - was completed within a tight five-day deadline as defined by the client. The turnaround was assured through the rapid deployment of valuers from our London headquarters.

The valuation included a combination of two specialist paper machines, associated machinery and equipment. Other additional factors also had to be considered within the report: The actual site of the mill and the property which had re-development potential, which also served to colour the valuation.

The report included detailed specifications of the machines, the current state of the used paper machinery market and some significant health and safety concerns.

Through GoIndustry DoveBid’s exceptional industrial auctioneering experience, the most profitable exit strategy was recommended within the report.

As a result, the clear and detailed report enabled the client to make pivotal decisions on the future of the mill. This judgement was based upon the Asset Intelligence provided by GoIndustry DoveBid.

For more information on our valuation services, visit our valuations page.

Thursday, October 21, 2010

Revaluation of Digital Book Printing Machinery

Recently, the GoIndustry DoveBid valuations team completed a valuation of book printing machinery. This was for a successful producer of short run, high quality, paperback books.

The company is the proud owner of a new digital book production system which transfers information from paper reel to finished book. In addition to this key production line, there are a number of high quality conventional presses, folding machines and book binding lines.

The previous valuation was completed in early 2009, at a time of uncertainty across all industries. Whilst the economic outlook for many has improved, the general printing industry remains in difficulty, with many high quality printing presses on the market worldwide.

The reported value took a further hit this year, as the exit period was reduced at the request of the client from 120 to 90 days. Inevitably, this impacts on the time available to market some of the large printing and binding machines and therefore the values achievable. The asset appraisal report’s Interpretation of Values Section highlighted the reasons for the reduction and the benefits of having an extended exit period - true Asset Intelligence.

To discover the additional services which are offered by the valuations team at GoIndustry DoveBid visit our website,  

Valuing Land Drilling Rigs in France

GoIndustry DoveBid were recently tasked with valuing land drilling rigs.  A small proportion of the worldwide land drilling rig population is located in Europe. The majority of these wells are located in France, where there are approximately 4000 land oil and gas wells. Most of these are in use, despite the slump in global oil prices. A favorable tax regime is a positive incentive to keeping these rigs going. However, many of the gas wells are becoming exhausted and need closing.

Productive wells require regular drilling or work-over to keep them operating efficiently, and exhausted wells have to be re-drilled prior to them being closed.

The exploration and development of new oil fields in France, provides new and exciting opportunities. In addition to this, the French Government is also supporting the geothermal energy incentive.

There are a surprisingly high number of small oil wells in the countryside East of Paris. These little 'nodding donkeys' can often be seen from the motorway. The majority of the gas wells are located in the South West of France, centered around Lacq and Pau. Some of these fields were developed over fifty years ago, bringing them close to retirement.

The European and, in particular, the French rig operation and drilling regulations are extremely strict. Although there are many used rigs on the market with Houston based dealers at this time, it can be very costly to adapt these for use in France as they are not directly comparable. The increased number of machines on the market reflects the low oil prices.

For further information please contact GoIndustry DoveBid

Friday, October 15, 2010

On the Valuation Circuit

GoIndustry DoveBid has completed yet another valuation of a printed circuit board manufacturer in the U.K.

The asset valuation was carried out for both insurance and internal financial purposes; the client required an accurate highly detailed schedule of all assets on site. Through the rapid deployment of three members of the valuations team from both the London and Bristol offices, the valuation site work was completed within three days and the report was sent to the client within the time frame stipulated.

The valuation included a combination of unique assets, including flying probe testers, laser drills, and developing lines. In some cases, the assets were completely bespoke to the process.

The delivery and accuracy of the asset valuation enabled the client to present the detailed valuation report to its Insurance broker for their annual premium review.

For more information on our services please visit our Valuations website.

Thursday, October 7, 2010

Using Inventory Valuation to Improve Lending Terms

GoIndustry DoveBid Valuation Services was recently engaged by an Asset-Based Lender (ABL) to re-appraise the inventory of a leading manufacturer and distributor of industrial fasteners. Following the teams valuation back in 2009, the lender had put an inventory facility together and was requiring a re-appraisal to update the terms currently offered.

Our valuation covered 9 UK and Ireland sites, of which two of the largest sites by value were visited.

The task of appraising this company continues to test the powers of the spreadsheet, analysing over 100,000 SKU’s (Stock Keeping Units) spread across all of the locations. Several pivot tables, spreadsheets and charts later, the analysis enabled the valuations team to build a full selling profile of the inventory on hand which was used to calculate the appraisal reducers required to sell the inventory within the defined exit period.

At the time of our first visit, the company together with many other businesses within the UK were being affected by the global recession. Since then, the industries in which the company feed into have started to recover, resulting in an improvement of the company’s performance. This showed through in many areas of our valuation, including inventory turn and selling profile, resulting in an overall improvement in our valuation.