FSC Holdings, Inc. and Companies to Sell Excess Inventory Across 20 Categories through Liquidity Services Online Marketplace, AllSurplus

Rhea-AI Summary

BETHESDA, Md., June 16, 2020 – Liquidity Services (NASDAQ: LQDT) partners with FSC Holdings to auction excess inventory across 20 categories, including Electrical Parts and Tools. The auction is hosted on AllSurplus with bidding open until June 23, 2020. Fairmont Supply, a subsidiary of FSC Holdings, is a leading distributor of MRO supplies and has served over 5,000 customers with 27 distribution centers.

Positive

• Partnership with FSC Holdings increases inventory auction opportunities.
• AllSurplus aims to attract a wide range of buyers with never-used assets.
• Liquidity Services has a proven track record with over $8 billion in transactions and 3.6 million buyers.

Negative

• None.

BETHESDA, Md., June 16, 2020 (GLOBE NEWSWIRE) -- FSC Holdings, Inc. (“FSC Holdings”), along with certain direct and indirect subsidiaries¹ and Liquidity Services (NASDAQ: LQDT) have partnered to sell excess Inventory across 20 separate categories through a Featured online auction. These categories include Electrical Parts, Cutting Tools, Automotive Parts, Hand Tools, and Power Tools, to name a few. All items are currently up for auction on AllSurplus, Liquidity Services’ newest online auction marketplace for business surplus.

Fairmont Supply Company (“Fairmont Supply”), a wholly-owned subsidiary of FSC Holdings, is a recognized leader in materials management and is one of the largest full-line distributors of industrial maintenance, repair, and operation (MRO) supplies in the United States. Fairmont Supply was historically recognized as a "Big 50" Industrial Supplier by Industrial Distribution Magazine.

“In 99 years of operating, we grew to over 27 distribution centers and on-site store management locations through the United States, serving over 5,000 active customers across the United States,” said CEO Larry Davis. “As we complete the restructuring of our business and look to dispose of our excess inventory, we have chosen to partner with Liquidity Services based on their reputation for bringing key buyers to the table.”

“This is a rare opportunity for companies across many different industries to purchase in the box inventory that has never been used,” said Chris Register, Vice President of Corporate Services for Liquidity Services. “Assets are available on our new marketplace, AllSurplus, and provide business buyers with detailed information and photos for each asset as well as a trusted and secure platform to transact.”

Interested buyers can view the items through Liquidity Services’ network of marketplaces including AllSurplus and its legacy marketplace, Go-Dove. Assets can be found by entering “Fairmont” in the keyword search tool. Bidding is currently open through June 23rd, 2020 at 5:00 pm EST.

AllSurplus is Liquidity Services’ newest online marketplace for business surplus, ranging from transportation assets to heavy equipment to industrial machinery. It is powered by the most experienced and trusted company in the surplus industry: Liquidity Services, which has supported over 14,000 sellers and 3.6 million buyers across the globe. AllSurplus buyers have direct access to the surplus assets across Liquidity Services’ network of marketplaces, all in one centralized location.

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 14,000 sellers worldwide. With over $8 billion in completed transactions, and approximately 3.6 million buyers in almost 200 countries and territories, we are the proven leader in delivering smart commerce solutions. Visit us at LiquidityServices.com.

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^{¹ FSC Holdings is the direct or indirect parent company of Fairmont Supply Company, Piping and Equipment, Inc., Industrial Distribution Acquisition Sub, LLC d/b/a THB and Industrial Distribution Acquisition Sub II, LLC d/b/a Amerisource.}

Contact:
Liquidity Services
Julie Davis
202.558.6234

FAQ

What is the partnership between Liquidity Services and FSC Holdings about?

Liquidity Services has partnered with FSC Holdings to auction excess inventory across 20 categories through the AllSurplus online auction.

Where can I find the auction items related to LQDT?

The auction items can be found on the AllSurplus marketplace, with bidding open until June 23, 2020.

What categories of inventory are being auctioned by LQDT?

The auction includes categories such as Electrical Parts, Cutting Tools, Automotive Parts, and Power Tools.

What is Fairmont Supply's role in the auction?

Fairmont Supply, a subsidiary of FSC Holdings, is facilitating the auction of excess inventory through Liquidity Services.

How does Liquidity Services support auction participants?

Liquidity Services provides detailed information and photos for each asset along with a secure platform for transaction.