Liquidity Services, Inc., operator of the surplus-goods marketplace Liquidation.com, has acquired Bid4Assets, which conducts online auctions on its platform for government agencies, counties, and private investors. For now, at least, it appears the two platforms will remain separate.
“The transaction accelerates Liquidity Services’ penetration of the large and fragmented municipal government real estate market and expands the size of Liquidity Services’ overall public sector market opportunity,” according to today’s press release.
Bid4Assets CEO Jesse Loomis will continue to manage the growth of Bid4Assets as a division of Liquidity Services after the closing and will retain the current Bid4Assets’ management team and employees.
Loomis said, “Coupled with Liquidity Services’ municipal government footprint and over 4 million registered buyers, the acquisition enables Bid4Assets to accelerate its development, deliver greater services to its clients and expand its footprint nationally.”
Under the terms of the agreement, Liquidity Services has acquired 100% of Bid4Assets’ issued and outstanding stock. The value of the deal was not disclosed.
Liquidity Services also announced today its expansion in the Northeast with the opening of a new 100,000 square-foot warehouse in Northern Pennsylvania for its Retail segment. “With a significant base of retail and e-commerce clients, as well as buyers in the region, this new location offers customers improved shipping cycles, lower freight costs, and an option for onsite pickups. These benefits make Liquidity Services’ supply of used, returned and excess inventory available in more cost-effective ways for Northeast buyers.”
Liquidation.com coined the term Restock Tuesday in 2009 – the day on which small-business retailers and e-tailers descend on the website to restock their shelves and websites following the busiest shopping days of the year. Restock Tuesday falls on the Tuesday after Thanksgiving.