Maynards to sell entire contents of Israel’s VRT Power facility

Global liquidation specialists Maynards are to sell the complete contents of VRT Power in Israel. The project will include logistics partners offering turnkey solutions to relocate and recommission equipment and test facilities.

The sale creates a unique opportunity for manufacturers of power transformers – particularly in countries with fast-developing economies where demand is high – to augment facilities and production by acquiring assets from a leading global development, design, manufacturing and test company of power, distribution, mobile, rectifier & furnace transformers.

Founded in 1948, VRT Power has supplied 1,500 power transformers, with additional specialist production of mobile substations and distribution transformers. It has an extensive customer base in the United States, where it exports 70% of its production, and registers annual sales of tens of millions of dollars.

Now VRT Power is to divest the assets as it closes its factory close to Tel Aviv airport and ceases operations.

Those assets include manufacturing capabilities up to 800MVA 500kV and mobile substations of 50MVA 230kV. The facility includes a complete High Voltage 1,600m2 test laboratory, enabling design and test specifications in accordance with IEC, IEEE, ANSI, CSA and other applicable international standards.

The sale will include all manufacturing and test equipment, cranage, IP, stock, trade names and design specifications.

With more than a century’s experience in providing liquidating, appraising and financing expertise for its customers, Maynards operates in a number of sectors. As the largest automotive facility machine equipment auctioneer and liquidator in the world, in recent years it has liquidated more than 70 million sq ft of automotive factories in North America, chiefly for GM and Ford, and in 2016 undertook the sale of the complete Holden facilities in Australia.

The company is also a major operator in the field of Used Machinery Equipment, managing projects worth hundreds of millions of euros via a global office network. A 2011 joint venture saw Maynards manage the sale of the contents of Europe’s largest shipyard, while in 2018 it dispersed the contents of the 40,000 sq metre Nestlé facility in Mainz, Germany.

Modern production and handling equipment supplied by German, Swiss & Italian suppliers in the VRT Power sale includes:

  • GEORG TBA 500 and TBA 1000 Lamination core cutting lines
  • (20+) Winders including nine vertical from MicafilBobifil & Ruff
  • Seven radio-controlled overhead travelling cranes up to 600 Tonne capacity
  • Mobile air-cushioned lift transporters including Delu up to 500 Tonnes
  • (3) Vapour phase ovens, including Hedrich, up to 450m3 
  • Complete testing facility up to 2400kV BIL, 50-60Hz, with 150MVA capacitor bank including ABB 3,55MW/50-60Hz and OERLIKON 4,2MVA/250Hz Generators
  • Internal Transport and Fork trucks, including Toyota, Hyster, Genie & Linde up to 7 Tonnes
  • 40,000 different stock items of raw materials
  • Designs, Drawings, Supplier agreements and IP

“Effectively we are selling a complete turnkey solution to manufacture power transformers,” said Daniel Gray, Managing Director (UK) of Maynards Europe. “Global electrical requirements are increasing, especially in India, so the offering should be attractive in such regions, especially as Maynards can play an instrumental role in relocation and the recommissioning of machinery and equipment for interested buyers.”

Founded in 1902 as a fine arts and furnishings auction business by the Maynards family in Victoria, British Columbia, our expertise in the machinery and equipment industry spans over a century. From our beginnings as a single store front auction house, to our current global footprint, Maynards has continuously enhanced our liquidating, appraising, and financing expertise for the benefit of our customers. Whether a single asset valuation or a multilocation liquidation, Maynards is committed to providing our customers insights and options – including turnkey solutions – to help inform their procurement, divesture, and capitalization of machinery and equipment decisions.

The recipe for success in the used machinery and equipment industry is a combination of experience, integrity, research, relationships, and initiative.

Maynards leverages more than a century of developing these important ingredients, which has enabled us to consistently deliver the highest returns and value to our customers. We do this by combining traditional sales methods with innovative marketing strategies, contrasting the prevailing forces of supply and demand with our database of historical comparables, and offering customizable financing structures to meet the needs of our customers.

www.maynards.com