Washington, D.C. (June 20, 2005) — Liquidity Services, Inc. (LSI) is recognized by Entrepreneur and PriceWaterHouseCoopers’ as America’s fourth fastest growing business. Featured in the June 2005 Entrepreneur Magazine Hot 100, LSI tops the list of Hot 100 companies for its rapid growth and success in delivering asset recovery and remarketing solutions for surplus assets and wholesale goods.
During the past five years, LSI has grown from raw start-up to a global market leader within the surplus asset disposition industry, increasing its revenue to $75.9 million in 2004. Through its online auction marketplaces www.Liquidation.com, www.GovLiquidation.com, www.goWholesale.com and www.UKsurplus.com, LSI uses B2B product sales, marketing expertise and value-added logistics & fulfillment services to maximize the recovery value of surplus assets and wholesale goods.
“The three key ingredients to a successful business are people, product, and profit, in descending order of importance,” said William P. Angrick, Chairman and CEO of LSI. “It is because of LSI’s dedicated and talented management team and staff that we have been recognized by Entrepreneur and PriceWaterHouseCoopers’ for this prestigious award.”
Over $100 billion of surplus assets must be disposed of each year because of rapid changes in product life cycles, changing technologies and variation in end user demand. Commercial and public sector organizations are increasingly exiting non-core functions such as asset recovery to enable cost cutting and enhancement of the bottom line. LSI brings to this business context enormous economies of scale in technology, buyers, product sales knowledge, compliance expertise and value added services to maximize revenues and reduce overall costs.
About Liquidity Services, Inc.
Liquidity Services, Inc. and its subsidiaries enable government agencies, businesses and financial institutions to market and sell surplus assets and wholesale goods quickly and conveniently using innovative online auction marketplaces, business-to-business product sales and marketing expertise, and value-added logistics and fulfillment services. The privately held company is based in Washington, D.C. and employs 285 people. Additional information can be found at: www.liquidityservicesinc.com