NEW YORK and BETHESDA, Md., Nov. 13, 2018 /PRNewswire/ -- Tiger Group and Liquidity Services, Inc. today announced the launch of a partnership focused on rapid, efficient and high-recovery disposition of assets from distressed organizations in the biopharmaceutical manufacturing industry.
Tiger Liquidity Services Biopharma Partners is comprised of two companies with substantial capital resources as well as deep experience in sector-specific asset valuations, sales and remarketing. By formally entering into a joint venture, experts from both companies become part of a collaborative team that can leverage a full range of sector-specific services, including buyer screening, export control and compliance with regulations surrounding asset inspection, handling and removal.
The partnership can provide immediate capital infusions by disposing of biopharma assets via online auctions, consignment sales or direct negotiations with global buyers. It also has the capital resources to purchase such assets outright in principal deals.
"We have an existing partnership with Liquidity Services in the oil and gas industry which has translated directly into greater efficiency and higher-touch service, which ultimately puts additional dollars into our clients' pockets," said Jeff Tanenbaum, executive managing director of Tiger Group. "When you consider the resources and expertise of both firms, which collectively have sold assets worth billions of dollars, it's clear that this is a powerhouse partnership. We're bringing new capabilities to professionals working with bankrupt or distressed entities in biopharma."
Liquidity Services' expertise in biopharma remarketing is reflected in a track record that includes more than $500 million in biopharma asset sales with multichannel access to 76,000 registered buyers in this sector. Liquidity Services' extensive relationships in biopharma are reflected in its consistent work on strategic dispositions of excess assets for the leading global pharmaceutical companies.
"Buyers all over the world routinely visit Liquidity's online marketplace on their GoIndustry DoveBid platform to bid on items like nuclear magnetic resonance devices, mass spectrometers or high-performance liquid chromatographs," Tanenbaum said.
Tiger has 40 years of experience in structuring disposition events globally and appraises more than $30 billion in commercial and industrial assets annually," noted Nick Taylor, Senior Vice President of Global Sales, Liquidity Services. "Tiger is well known for its insolvency expertise and process-oriented approach to maximizing net recoveries. Its relationships in the distressed space are second to none."
"Tiger Group and Liquidity Services are a perfect fit for biopharma," Taylor added. "Together, we have the marketplaces, the buyers, the historical sales data and the years of experience needed to help insolvency professionals seize opportunities in this dynamic sector."
About Tiger Group
Tiger Group (www.tigergroup.com) provides asset valuation, advisory and disposition services to a broad range of retail, wholesale, and industrial clients. With over 40 years of experience and significant financial backing, Tiger offers a uniquely nimble combination of expertise, innovation and financial resources to drive results. Tiger's seasoned professionals help clients identify the underlying value of assets, monitor asset risk factors and, when needed, provide capital or convert assets to capital quickly and decisively. Tiger maintains domestic offices in New York, Los Angeles, Boston, Chicago, and San Francisco, and international offices in Toronto, Sydney, Perth, Melbourne and Brisbane, Australia.
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 software and service solutions to manage, value and sell inventory and equipment for business and government clients. 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. Visit us at LiquidityServices.com.
SOURCE Tiger Group