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BtoB

Michael Goldstein wins auction for Randall Publishing

Published on .

Schaumburg, Ill.—Michael Goldstein was the winning bidder at last Thursday’s court-ordered auction for the assets of Randall Publishing, which included Gear Technology and Power Transmission Engineering.

The winning bid was $400,000, sources present at the auction confirmed.

Until a falling out with his brother, Richard, Michael Goldstein had co-owned Randall Publishing.

There were five active bidders for the property, a source said.

The company, which generated estimated net income of $97,000 last year and $101,000 in 2007, was founded by the Goldstein brothers in 1984. The sale is being handled by Realization Advisors, the court-appointed custodian of Randall Publishing.

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