Liquidity Services Acquires TruckCenter.com
By Ina Steiner
Liquidity Services has agreed to acquire TruckCenter.com, an online auction marketplace for fleet and transportation equipment. Liquidity Services will pay $9 million in cash upfront plus additional cash payments of up to $9 million based on TruckCenter.com's future revenues and earnings over a 24 month period after closing.
TruckCenter.com will operate as part of Liquidity Services' Commercial Asset Recovery Division. Liquidity Services expects the deal to add approximately $50 million of annual Gross Merchandise Volume (GMV).
The acquisition strengthens Liquidity Services' overall business in the growing transportation industry vertical. LSI will add over 200 new commercial sellers of transportation assets, a critical mass of registered buyers of fleet, rolling stock and other transportation equipment, and five permanent facilities to support the national service required within this industry vertical. The storage facilities are located in the areas of Los Angeles, CA; Dallas/Fort Worth, TX; Atlanta, GA; Indianapolis, IN; and New Castle, DE.
The acquisition is expected to close in June 2011 and is subject to customary closing conditions and post-closing price adjustments.
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to firstname.lastname@example.org.
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