Highlights:
- London based, E-Waste Systems has agreed in principal to purchase an end-of-life electronics recycler based in the southeast United States.
- The name of the company was kept confidential to protect relationships between suppliers and customers. It will be announced when a definitive contract has been signed.
- The target company operates from 25,000 sf of space and has a number of certifications required to process e-waste safely.
From the article:
E-Waste Systems Inc. (EWSI) has a tentative agreement to buy an unidentified end-of-life electronics company in the southeast United States.
The letter of intent requires that the names of the company and the terms of the deal be kept confidential to protect customers, suppliers, and employees, but London-based EWSI will announce it when a definitive agreement has been executed, the company said in a news release.
From the press release:
Martin Nielson, CEO of EWSI states, "We are very pleased to have signed the letter of intent for this acquisition. The services, location, customer base, qualifications and team that make up this target will provide us with a solid entry into this important region."
The target is significantly profitable and EWSI expects that they have the ability to sustain their growth as a key part of EWSI's plans to establish itself as an important player in this 55B dollar industry. Upon completion, this acquisition would provide complementary services, important geographic location and a customer base which closely matches EWSI's strategic emphasis on servicing OEM's, major retailers, large corporations, and government institutions. Operating from 25,000 sf of modern space, the target delivers an array of end of life services with solid pending credentials, including R2 and ISO. This LOI requires that the names of the company and the terms of the deal be kept confidential to protect customers, suppliers, and employees, but will be announced as soon as the definitive agreement has been executed.
