Loeb Winternitz Industrial Auctioneers and Yellen Partners announced this week that they have facilitated the sale of the assets of Paramount Machining Solutions as a complete operation, to Global Manufacturing Industries. As a result, any scheduled auctions have been cancelled.
“It took a number of months to secure this transaction, but we are all excited the sale finally closed. This transaction was a little more complicated as it involved the equipment, real estate, inventory, and receivables, but at the end of the day when a company such as Paramount becomes available, it’s great to complete a turn-key sale, especially when so many jobs could be saved,” stated Charles J. Winternitz, President of Loeb Winternitz Industrial Auctioneers.
