Heath Industrial liquidates machinery and equipment collateral for banks, lenders and equipment finance companies through on-site, online and webcast auctions. We handle collateral review and USPAP-compliant appraisal, the sale plan, cataloging and national marketing, the auction itself, buyer payments and removal, and an itemized lot-by-lot settlement report for your file.
Based in Hoffman Estates, Illinois, we have been selling industrial equipment since 1985. We work nationwide, with a focus on Illinois, Indiana, Wisconsin, Missouri, Michigan and Ohio, for commercial banks, asset-based and SBA lenders, equipment finance and leasing companies, and the attorneys who represent them.
From a single repossessed machine to a full plant of collateral.
A loan has defaulted and the equipment securing it needs to be sold. We plan a documented, publicly marketed sale built around your recovery goals.
The borrower and lender agree to sell assets to pay down the loan. A cooperative sale keeps the borrower involved and usually brings stronger results.
Machines already recovered, or still at the borrower's site. We sell them where they sit or include them in one of our scheduled auctions.
The lender owns the building and needs it emptied. We sell the machinery and contents and clear the facility for sale or lease.
SBA lenders, equipment finance and leasing companies disposing of collateral or off-lease equipment.
Need FLV and OLV numbers to decide between a workout and a liquidation? We appraise first, then sell only if you decide to.
One team manages the sale from the first collateral review to the final report.
We inspect the equipment, check it against your collateral schedule, and give you a realistic picture of what a sale can recover.
USPAP-compliant FLV, OLV and FMV appraisals for your credit file, workout decisions or court filings.
We recommend a format and schedule that fit your timeline and any notice periods, coordinated with your counsel and, where appropriate, the borrower.
Every lot is photographed and described. We advertise the sale publicly to our bidder database, industry contacts and buyers nationwide.
On-site, online-only or webcast. We handle registration, bidding, clerking, buyer payments and removal.
You receive an itemized lot-by-lot settlement report and the net proceeds, typically within 30 business days of the auction.
A transparent sale, documented so your credit, workout and legal teams can see exactly what happened.
The firm that values your collateral also sells it, so FLV and OLV figures reflect what equipment actually brings at auction. About our appraisals →
Four decades of sales for banks, trustees and owners means realistic recovery expectations and schedules you can plan around.
We sell single repossessed units through our scheduled auctions and run complete facility liquidations. Plant closing liquidations →
Licensed and bonded in Illinois and surrounding states. Members of the National Auctioneers Association, Illinois Auctioneers Association and Machinery Dealers National Association.
Call early, before positions harden. A collateral review gives you a realistic recovery estimate and timeline, with an appraisal for your file if you need one.