Valeant closed its solid dose pharmaceutical facility in Montreal, Quebec and needed to dispose of the process equipment while returning the building to a reusable condition. Phoenix Equipment purchased all equipment within the facility and assumed responsibility for its removal.
The acquisition included more than 100 pieces of pharmaceutical process equipment, and Phoenix conducted an online auction before beginning the physical removal work. The approximately $1 million project ran from June through August 2013.
The Challenge
Valeant needed both a defined financial outcome and a reliable path to clearing the building before its deadline. With more than 100 pieces of process equipment to sell and remove, Phoenix provided a guaranteed purchase commitment and took responsibility for coordinating the equipment disposition and facility clearance.
Online Auction & Equipment Removal
Before equipment removal began, Phoenix held an online auction to market the pharmaceutical equipment to potential buyers. The auction was coordinated with the subsequent removal program, after which Phoenix cleared the acquired equipment from the facility and left the building in reusable condition.
Project Outcome
Valeant received a guaranteed payment from Phoenix and had the building cleared before its required deadline. Phoenix assumed the equipment-market risk, auction process, and responsibility for removing the acquired assets.
Project Highlights
- Client: Valeant
- Location: Montreal, Quebec
- Facility: Solid Dose Pharmaceutical Plant
- Equipment: More Than 100 Pieces of Pharmaceutical Process Equipment
- Phoenix Scope: Equipment Acquisition, Online Auction and Equipment Removal
- Sales Method: Online Auction Prior to Equipment Removal (See Liquidation)
- Project Timeframe: June 2013 – August 2013
- Project Value: Approximately $1 Million
- Owner Outcome: Guaranteed Payment / Building Cleared Before Deadline
- Final Condition: Building Left in Reusable Condition
Guaranteed Equipment Sale With a Defined Clearance Schedule
The Valeant project combined a guaranteed equipment purchase with an online auction and coordinated facility clearance. Phoenix assumed the resale risk for more than 100 pieces of pharmaceutical equipment while taking responsibility for removing the assets and returning the building in reusable condition before Valeant’s deadline.