Guns Adams Arms Post-Auction Update (2020) Candice Horner April 10, 2019 1 Comments, Join the Conversation Adams Arms is best known for its piston kit and AR uppers, in addition to other U.S.-made AR-15 parts and upgrades. And, yes, the company is in business! Background on the Auction of Adams Arms Ever wanted to own a firearms manufacturing company and have someone else do all the legwork? If so, here's your chance because Adams Arms is up for public auction. Photo courtesy of Moecker Auctions, Inc. Turnkey Operation We recently learned about the Notice of Public Sale of Collateral for Adams Arms LLC. The company is a firearms and accessories manufacturer based out of Odessa, Florida. The listing states “Adams Arms LLC will be sold as a complete turnkey operation (1-lot auction sale).” Adams Arms Staff at SHOT Show 2019. The sale will “include all tangible and intangible assets owned by Adams Arms, LLC, including accounts, registered patents, registered trademark, instruments and/or investment documents, furniture, fixtures, equipment, inventory and related property.” Over 370 pictures showing some of the assets are uploaded to the auction website. Photo courtesy of Moecker Auctions, Inc. Important Dates Public Auction: April 30, 2019 at 11:00 AM Full day inspection: April 29, 2019 from 10 AM to 4 PM Private inspections are available upon request The auction will be held on-site at:1551 Gunn Highway, Odessa, FL 33556 Photo courtesy of Moecker Auctions, Inc. Partial Terms The auction listing provides the following partial terms: All items are as is, where is, with no warranty expressed or implied. Subject to confirmation. Registration deposit: $20,000 refundable cash/certified funds and valid state issued ID. 10% Buyer’s Premium will apply. Successful bidder is required pay in cash or cashier’s check ten percent (10%) of the Collateral purchase price immediately following conclusion of the sale which shall be nonrefundable, and must remit the balance due in cash or cashier’s check within five (5) days following the sale. Adams Arms patent. But Why an Auction? We reached out to the company because the public auction notice came as a surprise to us. More often than not, companies will quietly transfer ownership, liquidate assets, or will file for bankruptcy. Since neither seems to be happening, we wanted to know what was really going on. Chairman, Paul Miller said, “Our secured debt has come due. The creditors are having all the assets auctioned together as a turnkey operation. We are continuing to sell, deliver and service our wide range piston-driven firearms, parts and kits. I fully expect for Adams Arms customers to be serviced under new ownership after the auction.” The lender is conducting a public sale due to “default by Adams Arms…” Additionally: At any time before the sale, all appropriate parties may redeem the collateral in accordance with your rights under Chapter 679 of the Florida Uniform Commercial Code, by tendering payment of all obligations secured by the collateral which will be in excess of $5,173,372 in principal and interest, plus expenses reasonably incurred by the undersigned in retaking, holding, and preparing the collateral for disposition, and in arranging for the sale, and for reasonable attorneys’ fees and legal expenses. https://www.dailydac.com/public-notice-of-collateral-sale-adams-arms-llc/ Long story short, it's time for the lender to collect their money, and the auction is their plan of action. Result of the Adams Arms Public Auction 2020 Update: After the announcement that the maker would be up for public auction, many wondered what the future would hold for the company and its customers. Specifically, if the “turn-key” operation aspect of the auction would mean the company could carry on as before and manufacture guns and accessories, while still upholding the advertised warranty. The auction took place on April 30, 2019, and the results appear to be in favor of the company, its employees, and its customers (past and future); so it's a win-win-win. In a press release, the company stated: Adams Arms LLC Announces Asset Sale April 30, 2019 On Tuesday, April 30th, 2019, Adams Arms LLC's assets were publicly auctioned at its facility in Pasco County, Florida, following maturity of its secured loans. The company’s senior secured creditors were the high bidder and are in the process of transferring these assets into a new company, Adams Arms Holdings, LLC (“AA Holdings”). Adams Arms, LLC, after the successful transfer of assets, will be closed. It was announced and advertised at the beginning of April that Adams Arms LLC’s assets would be auctioned as a turn-key operation, including all tangible and intangible assets. AA Holdings will continue the Adams Arms brand. AA Holdings will fulfill all customer orders and honor all Adams Arms life-time product warranties. AA Holdings will operate with greater strength and leadership than ever before. The new company will leverage the patents, know-how and commitment to the customer that has been the Adams Arms way since inception of the brand in 2007. With a clean balance sheet, AA Holdings will be able to focus on providing new products, superb quality, and complete customer satisfaction. The Adams Arms team is committed to building upon existing relationships and to providing its customers with unique products that are cost effective, robust and meet their needs. Adams Arms LLC thanks its longtime customers and partners for their business. AA Holdings will deliver the highest quality that everyone has come to expect from Adams Arms, and will continue to develop new and innovative products. 2019 has seen Adams Arms offer an upgraded P3 series rifles, a 20” .224 Valkyrie rifle, a 9mm Pistol Caliber Carbine, a full line-up of piston-driven AR-pistols, and a next gen slide/slide assemblies for Glock 17 & 19 handguns. Exciting new products are in development and AA Holdings expects to release them before the end of the year. Adams Arms Review The AR parts manufacturer is best known for its patented retro-fit piston drive system that's used on AR15/M16 platform rifles. There are several benefits to a piston system versus a direct impingement system. The main benefit is that it's a cleaner running system that directs gases away from the end-user. If you've run a direct impingement rifle, you know how quickly the bolt and bolt carrier builds up carbon; this doesn't happen with a piston system. To better understand the difference, check out this quick video: https://youtu.be/GvUjVYg8JBk In addition to its Piston Kit, other popular offerings include the Adams Arms Uppers. Recommended: Check out the new Cartridges of the AR-15 book by Patrick Sweeney. Explore RECOILweb:The Ashley Update: Experimental French Breach-Loader that Pretends to be a Bolt ActionHornady Launching New Ammo Lines In 2018First Look: Henry Homesteader 9mm CarbinePanteao Subscriber Appreciation Sale NEXT STEP: Download Your Free Target Pack from RECOILFor years, RECOIL magazine has treated its readers to a full-size (sometimes full color!) shooting target tucked into each big issue. Now we've compiled over 50 of our most popular targets into this one digital PDF download. From handgun drills to AR-15 practice, these 50+ targets have you covered. 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