PITTSBURGH – July 26, 2018 – A team of Buchanan Corporate attorneys, shareholders David A. Monaghan and Perry S. Patterson, along with associate Daniel R. Richey, assisted client Liquidity Services, Inc. (NASDAQ: LQDT), a global solution provider in the reverse supply chain with the world’s largest marketplace for business surplus, with the acquisition of Machinio Corp., a leading global online platform for listing used equipment for sale in the construction, machine tool, transportation, printing and agriculture sectors.
“The transaction was a great opportunity to work with the Liquidity Services, Inc. team to assist them in an acquisition of a business that is a great complement to their existing business model. This was one of those transactions where we were able to align with the acquired company’s team in order to assure that the structuring and results execute on the vision of the new partnership,” said Monaghan.
“This acquisition supports our strategy as the world’s largest marketplace for business surplus by expanding the services and channels we offer our sellers to maximize recovery and growing our network of buyers in important global equipment verticals,” said Bill Angrick, Chairman of the Board and CEO of Liquidity Services. “Machinio is delivering superior value to their customers and our combined offering will enable us to grow our transaction volume, expand our recurring revenue service offerings, and utilize technology and innovation to improve our seller and buyer experience.”
Buchanan’s Corporate practice is known for complex transactions, deal structures and negotiations designed to meet clients’ operational and strategic objectives. Attorneys are experienced in multiple areas of focus, such as mergers and acquisitions, commercial contracts, executive compensation, private equity and venture capital, emerging companies, securities and SEC, and technology transactions. The practice is nationally recognized by Corporate Counsel as a “go-to” firm for corporate law and ranks as a national Tier 1 practice in the U.S. News - Best Lawyers “Best Law Firms” report.
About Liquidity Services
Liquidity Services (NASDAQ: LQDT) operates a network of leading e-commerce marketplaces that enable buyers and sellers to transact in an efficient, automated environment offering over 500 product categories. The company employs innovative e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government sellers. Our superior service, unmatched scale and ability to deliver results enable us to forge trusted, long-term relationships with over 11,000 sellers worldwide. With over $7 billion in completed transactions, and over 3 million buyers in almost 200 countries and territories, we are the proven leader in delivering smart commerce solutions.