HVACR, Office and Warehouse Equipment Valued at $2.5 Million Hits the Auction Block In Major Liquidation Sale

SOUTH EL MONTE, Calif., Jan. 9, 2012 /PRNewswire/ -- More than $2.5 million worth of heating, ventilation, air conditioning and refrigeration (HVACR) equipment and parts, along with rolling stock, office and warehouse equipment, will go up for auction this month as part of the liquidation of South El Monte-based Burke Engineering Co.

Online bidding for the 63-year-old company's assets is scheduled to open on January 13 and close on January 19. The auction is being conducted under the direction of Tiger Group's Remarketing Services Division, by order of court-appointed receiver Stapleton Group. An on-site preview at Burke's headquarters at 9700 Factorial Way in South El Monte, will be held from 9 a.m. to 4 p.m. on Wednesday, January 18.

The auction features HVACR controls, equipment, tools and supplies from such manufacturers as Kelvinator, Honeywell, Refrigeration Technologies, Nu-Calgon, White Rodgers, Robert Shaw, Johnson Controls, EWC Controls, Emerson, Belimo, Klein Tools, and many more.

Beyond HVACR equipment, the items up for auction include fixtures from Burke's closed stores and distribution centers, including pallet racking, stock shelving, pallet movers and storage containers. Rolling stock such as stake-bed trucks and Caterpillar forklifts, as well as office furniture, computers and other items, will also be on sale.

Additionally, Burke's BEKO business unit is being offered for sale as a complete package, including inventories of thermostat guard and electronic connector parts, along with certain intellectual property to support BEKO's ongoing operations.

"When considering the total offering, interest in this auction extends well beyond HVACR-related companies to businesses of all types and sizes, thanks to the wide variety of office and warehouse equipment included in these inventories," said Jeff Tanenbaum, president of Tiger Remarketing Services, which is based in Westlake Village, Calif.

Founded in 1949 by John "Bud" Burke (1915-1979), the family-owned Burke Engineering formerly operated 13 locations throughout California, and in the Las Vegas, Phoenix, Denver and Albuquerque, N.M. markets. A court-appointed receiver, Los Angeles-based Stapleton Group, took control of the company in September 2011.

Following an effort to sell Burke Engineering as a going concern, Tiger Remarketing Services was retained by Stapleton to liquidate the company's assets for the benefit of creditors. Stapleton immediately shut down all but three branch locations (San Jose, Las Vegas and Los Angeles) and the S. El Monte store, which adjoins Burke's warehouse and office. Tiger then ran a six-week liquidation sale, which concluded in mid-December, at the four sites. The Jan. 19 auction includes the company's remaining $2.5 million in inventories and equipment.

For more information on the Burke Engineering auction or to bid online, visit www.soldtiger.com, or the following link:
http://auctions.tigergroupllc.com/cgi-bin/mndetails.cgi?tigergrp24.

About Tiger Remarketing Services Division

Tiger Remarketing Services and its affiliates at Tiger Group provide advisory, restructuring, valuation, disposition and auction services within a broad range of retail, wholesale, and industrial sectors.  With over 40 years of experience and substantial financial backing, Tiger offers a uniquely nimble combination of expertise, innovation and financial resources to drive results. Tiger's seasoned professionals help clients identify the underlying value of assets, monitor asset risk factors and, when needed, convert assets to capital in a variety of ways quickly and decisively.  Tiger's collaborative and no-nonsense approach is the foundation for its many long-term 'partner' relationships and decades of uninterrupted success.  Tiger maintains offices in Boston, Los Angeles, New York and Atlanta. To learn more about Tiger, please visit www.TigerGroupLLC.com.

SOURCE Tiger Remarketing Services