Industry News Adams Arms is Up for Public Auction Candice Horner April 10, 2019 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. Adams Arms 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 Adams Arms: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. Photo courtesy of Moecker Auctions, Inc. But Why an Auction? We reached out to Adams Arms 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. Adams Arms 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. Check out the auction page HERE. About Adams Arms Adams Arms 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: To learn more about Adams Arms, visit https://www.adamsarms.net/ Explore RECOILweb:Driving Wild in LARECOILtv Mail Call: Brownells/TTI Magazine ExtensionsMorgan Reese - Going HotThermal Defense Solutions Bantam II Silencer 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. Print off as many as you like (ammo not included). Click here to get IMMEDIATE ACCESS to a digital PDF of this target pack!