ABS Capital Managing General Partner Phil Clough Honored by Washington Business Journal
WASHINGTON - May 22 – Liquidity Services, Inc. (NASDAQ:LQDT), a global solutions provider in the reverse supply chain with the leading online marketplace for business surplus, is pleased to announce Phil Clough, a Director from its board, has been recognized as an “Outstanding Director” by the Washington Business Journal.
“We are truly pleased to see Phil receive this recognition for his board service,” said Bill Angrick, Chairman and CEO of Liquidity Services. “Phil has served on our board for the past decade through many of the critical points in our growth. His philosophy of prudent risk-taking – aligning strategy to the growth goals of the business – has helped to set the standards for our organization as we lead the way forward in the $150 billion reverse supply chain industry.”
The Washington Business Journal recently hosted its third annual Outstanding Directors Awards Gala at the Four Seasons Hotel in Washington, D.C., acknowledging an impressive list of 10 Directors for their board service.
“The real reward has been working with this great management team and fellow board members through all the tremendous progress, change, and growth the company has had over the past ten years,” said Mr. Clough. “I enjoy being around high growth companies andLiquidity Services has a very unique place in the market. I am very honored by the award.”
Mr. Clough has served as a Director of Liquidity Services since September 2004. He is a Managing General Partner of ABS Capital Partners (“ABS Capital”), a growth equity firm. Since 1990, ABS Capital has funded over 100 growth companies. Prior to joining ABS Capital, Mr. Clough was President and Chief Executive Officer of Sitel Corporation, a publicly-traded, global provider of outsourced customer support services, from May 1998 to March 2001. In addition to serving as a Director of Liquidity Services, he currently serves on the boards of several high growth private companies.
About Liquidity Services, Inc.
Liquidity Services, Inc. (NASDAQ: LQDT) provides leading corporations, public sector agencies, and buying customers the world’s most transparent, innovative, and effective online marketplaces and integrated services for surplus assets. On behalf of its clients, Liquidity Services has completed the sale of over $4.7 billion of surplus assets in over 500 product categories, including consumer goods, capital assets, and industrial equipment. The company is based in Washington, D.C. and has more than 1,300 employees. Additional information can be found at: http://www.liquidityservices.com.