Liquidity Services acquires Sierra Auction for $13.5M cash to expand SW US municipal surplus market

LIQUIDITY SERVICES INC

Purchase price of $13.5 million paid in cash at closing, subject to working capital adjustment.
Sierra Auction is sole auction outlet for seized/forfeited assets from prominent Arizona state and county agencies.
Acquisition expected to be accretive but not material to Liquidity Services' FY2024 results.
Sierra's management team and employees to be retained post-transaction.
Sierra hosts largest weekly public online auctions in Arizona; specializes in vehicles, equipment, and surplus.

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