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Hilco Streambank to Sell US RAC Intellectual Property

NEW YORK, Oct. 8, 2014 (GLOBE NEWSWIRE) -- Hilco Streambank has been retained as exclusive agent to market for sale the assets of US RAC, LLC and The RAC Holding Company, LLC. The Michigan based company produced an innovative secure locking system called The RAC®, which features a patented mounting and locking system designed for various applications including fire arm security and tool and equipment locking. US RAC is currently in a Michigan receivership. Assets for sale include patents, trademarks, design files, and remaining inventory.

Patents and Trademarks

  • 6,817,477 – U.S. (Utility) Patent, "Device for Locking Firearms and Other Articles"
  • 6,932,221 – U.S. (Utility) Patent, "Mounting Apparatus"
  • D482,260 – U.S Design Patent, "Apparatus for Locking and Mounting a Firearm"
  • D483,648 – U.S. Design Patent, "Apparatus for Supporting a Firearm"
  • United States Trademark Registration – The RAC®

Design Files – All design files included.

Inventory

  • Approximately 6700 Units of the 5 inch version of The RAC®

Considered to be the ultimate anti-theft and storage system for firearm and equipment security, the RAC provides for secure storage for weapons, valuable tools and equipment in the home, at the office, in a vehicle (where permitted) or on the job site. Designed with key-lock access, trigger lock and a tamper-resistant mounting system, the RAC was developed to help individuals, corporations, and local, state, and federal government agencies enhance the security of their firearms and expensive equipment.

Between 2006 and 2013 the company sold over 120,000 units grossing over $6MM in revenue. Average pricing for The RAC® unit was between $39 and $72 at wholesale with retail prices of between $59 and $99. Institutional customers included several government agencies and several municipal law enforcement agencies. The RAC® was sold through direct and retail channels, including Cabela's, Home Shopping Network, Gander Mountain and in partnership with Remington Arms.

The RAC® has obtained the following certifications:

  • GSA Approved
  • California Compliance
  • C.P.S.C. / ASTM Certification

Hilco Streambank is currently soliciting interested offers for the above assets. The bid deadline for these assets is October 30th, 2014 4PM EST. Further diligence can be conducted once under confidentiality agreement with the company. A bid form and instructions for participating in the sale process can be acquired by contacting the below representatives.

Please direct any further questions regarding the assets to the below Hilco Streambank contacts:

Gabe Fried
gfried@hilcostreambank.com
781-444-4940 x202
Matt Helming
mhelming@hilcostreambank.com
781-444-4940 x205

About Hilco Streambank

Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation. Over the last three years Hilco Streambank has become a leader in the IP valuation and disposition market, representing brands across various industries. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases, private transactions, and online sales through HilcoDomains.com and IPv4Auctions.com, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet and telecom community. Hilco Streambank is part of Northbrook, Illinois based Hilco Global (www.hilcoglobal.com), a worldwide financial services company and leader in helping companies maximize the value of their assets.

CONTACT: Gabe Fried gfried@hilcostreambank.com 781-444-4940 x202

Source: Hilco Global