Rockford Products machinery, equipment to be sold in auction

PRNewswire

NORTHBROOK - The largest auction of fastener manufacturing equipment in 30 years is scheduled for Feb. 14-16 in Rockford with the sale of assets from Rockford Products.

PPL Group will conduct the auction jointly with Capital Recovery Group and Rabin Worldwide.

Founded in 1929, Rockford Products became one of the world's leading manufacturers of fasteners and cold form components, including large diameter fasteners used on earth moving and construction equipment.

The 500,000 square foot plant at one time employed 650 people. In 2007, private equity firm BlackEagle Partners LLC bought the company for $23.2 million in a bankruptcy auction.

Former CEO Dave Richeson said "a significant part" of Rockford Products' business was with heavy off-road equipment manufacturers. Soft sales in that sector led to a loan default that forced the company to seek a change in ownership or liquidation. After its restructuring efforts were unsuccessful, it closed down in September 2016.

The auction will be held over three days: the first two will be live and online and the third day will be online only.

Among the items for auction are CNC machines, heat-treating equipment, cold formers, milling and turning machines, raw materials, and general plant equipment, according to David Muslin, PPL's president and CEO. Bidders can register and find a detailed catalog of equipment at www.pplauctions.com.

The facility at 707 Harrison St. in Rockford, will be open 9 a.m.-4 p.m. for inspection and viewing on Feb. 9, 10 and 13 with the auction scheduled for February 14-16 at 10 a.m.