Bankruptcy - Telecommunications Customer
Profile: Customer was Debtor in Possession (in Chapter 11); Only Finance and Accounting
personnel remain at the company. Prior to filing bankruptcy, customer was international
'Carriers Carrier'. Apto Solutions was employed as liquidator for the estate through
the Debtor via exclusive contract and approved through the US Bankruptcy Court via
Court Order.
Description of Assets: Customer had nine telecom switching sites with Nortel,
DSC and Siemens switches located across the United States, in London, and Hong Kong;
each equipped with international switching and related transmission gear.
Selling Process: All assets were strategically sold directly to end-users and
dealers. Most assets were sold directly from their locations. In four cases Apto Solutions
assigned the leases to customers who purchased the majority of the equipment and used
the site as expansions or new POP's for their networks. The remaining equipment was
professionally removed by Apto Solutions technicians and sold from our warehouses
in Atlanta. All transactions were documented and approved through the Bankruptcy Court.
Timeline: The entire liquidation process lasted nine months, beginning in October
of 2001 and ending in June of 2002. The majority of the value was recovered in four
months.
Total Recovery: $9,580,816.00
Asset Recovery - Capital Finance Company Customer
Profile: As one of the largest lease/finance companies in the world, customer
provides asset based lending, leasing solutions and vendor-backed financing. During
the Telecom boom, customer financed large quantities of assets sales to telecom start-ups
for large telecom manufacturers. When the industry went into turmoil at the turn of
the century, they were left with mountains of equipment and very few buyers left in
the marketplace.
Description of Assets: High-end telecommunications, data networking, core routers
and video encoding and transmission equipment from several manufacturers.
Selling Process: Upon our engagement, Apto Solutions strategically recovered
multiple locations and consolidated the inventory in our warehouses in Atlanta. We
inventoried all assets down to the serial number on each component to meet the reporting
requirements of our customer. Additionally, details from the recovery location and
the company we recovered it from (the lessee of the equipment) was documented and
recorded in our database. Apto custom developed several software modules to provide
concise reports to the customer in a manner that directly links to their database.
Timeline: Ongoing. Beginning in January 2002. Receiving regular weekly assets
from customer.
Total recovery: $6,750,000.00 sales to date.
Asset Recovery - Large Health Care Organization Customer
Profile: Large Health Care Organization with annual IT spending in excess of three hundred
million dollars. IT department had sold assets in the past in a dispersed and non-strategic
manner. Apto was able to provide them with a comprehensive Global Asset Recovery Strategy.
Description of Assets: Servers, Data Storage Equipment and Data Networking
Equipment from major equipment manufacturers.
Selling Process: As part of our global recovery program, Apto Solutions regularly
recovers equipment for the customer from their data centers, corporate offices and
branch locations throughout the country and internationally. All equipment is consolidated
to our warehouses where it is professionally inventoried, tested and then resold to
our customers around the world.
Timeline: Apto Solutions was engaged in January of 2002 through the present
time.
Total Recovery Value: $12,630,000 to date
Asset Recovery - Medium Size Corporation
- M&A Transaction Customer Profile: Customer purchased the operating
business and assets of another corporation that met its strategic growth objectives.
Included in the transaction were many unneeded assets. In order to complete the acquisition,
Apto played a key role by preparing valuation and recovery estimates that were used
to secure bank financing that made the transaction possible. Customer uses proceeds
from the sales of assets fund ongoing operations and pay down debt associated with
acquisition.
Description of Assets: Networking Equipment, Servers and Computers from several offices,
headquarters location, manufacturing facilities and warehouses. Surface Mount Technology
lines and related manufacturing equipment. Raw manufacturing materials including computer
boards, chip sets and related Work-In-Process material.
Selling Process: All assets were strategically recovered and sold by Apto Solutions
to our customers we identified with a strategic need for the same.
Timeline: March 2003 - Present.
Total current recovery value: $2,250,000.00 to date.
Summary - The previous Business Cases exemplify Apto Solutions
asset recovery processes and results. We hope that all of your questions have been
answered and that you will choose Apto Solutions as your primary vendor for excess
assets. Please contact us with questions at any time at
sales@aptosolutions.com