Hilco Streambank, today announced that it has been retained by Colorep, doing business as AirDye Solutions and Transprint USA, to run an asset sale and auction on September 19, 2013 at 10 a.m. PDT.  All bids will be due by 5 p.m. PDT on September 18, 2013.

AirDye Solutions and Transprint USA offer waterless dye and print solutions for synthetic fabrics such as apparel and home textiles.  The company’s transfer paper is printed with specially formulated dyes that are then transferred to fabric through a heat sublimation process.  The paper is sold to customers in Asia, Europe, and North America.

Assets for sale include:

• Intangibles: Patents, patent applications, trade secrets, license agreements, design library, proprietary software, proprietary dye formulations, and sales contracts.
• Real Estate: A 147,000 square feet facility in Harrisonburg, VA on 13 acres with multiple dock doors, high ceilings and easy accessibility to major highways.
• M&E: Five gravure print production lines, paper-handling equipment, warehouse equipment including forklifts, pallet jacks and cranes.
• Inventory: 2,500 tons of steel in the form of gravure cylinders, containing several thousand designs that are archived, labeled and racked.  The material is also available as scrap.

Commenting on the asset sale, Gabe Fried, CEO of Hilco Streambank said, “The company’s waterless print and dye technologies are truly state of the art, and will provide a buyer with access to customers around the world and the ability to own the waterless print and dye space.  As customers look for a sustainability and speed advantage, these technologies will create a competitive moat for the buyer.  Additionally, the VA facility offers a number of structural and location-related attributes. In addition, the warehouse equipment, products and intangible assets provide an exclusive value and business opportunity that cannot be found anywhere else.  As such, we expect this auction to attract active interest from a broad spectrum of buyers.” 

Hilco Streambank is an advisory firm specializing in the marketing, sale and valuation of intangible assets for businesses at all stages.  Hilco Streambank is part of Hilco Global, an independent financial services company.