TES to Acquire EGR
Acquisition adds an established IT recycling platform to TES's suite of services in Europe
TES has acquired 100% of the share capital of EGR Beteiligungs GmbH (EGR), a leading recycler based in Herten, Germany. Since formation in 1993, EGR has provided technology recycling solutions across mainland Europe supporting WEEE programs and B2B / B2C nationwide take-back solutions. The acquisition further develops TES's vision to deliver more connected lifecycle solutions to their clients throughout Europe.
TES Europe GM, Steve Graham, said "As a certified waste management company, EGR has considerable experience in B2C and B2B IT recycling and a fantastic reputation across Europe. As we share a number of key clients as well as strong business ethics, the leadership team will integrate well into the TES team and allow us to bring the reality of the circular economy closer to our clients."
"Today marks a step change for EGR. TES is widely recognised as a global leader in electronic waste recycling; that leadership along with their facility footprint will allow us to bring new opportunities to the market in Europe" said Christian Winkler, EGR Managing Director.
The integration of EGR will help accelerate growth and overall client engagement via 33 sites across 20 countries, providing an owned/operated geographic platform that is unmatched in this space. EGR's management team will join TES Germany as this strategic combination reinforces TES's growth strategy.
TES is backed by Navis Capital Partners, one of southeast Asia's largest private equity companies with over US$5 billion under management. Jean-Christophe Marti, Senior Partner at Navis, commented: "The market is clearly demanding more seamless IT lifecycle solutions and companies want to use a small number of partners to deliver those solutions. Integrating End of Life Recycling in Europe into our suite of services is a part of our foundational strategy to build a global circular economy leader around the TES platform."
Since formation in 2005, TES has been a circular economy leader focusing on IT Lifecycle Services, offering bespoke solutions that help customers manage the commissioning, deployment and retirement of Information Technology (IT) assets. Backed by Navis Capital Partners, one of southeast Asia's largest private equity companies with over US$5 billion under management, TES now operates in 33 locations across 20 countries. www.tes-amm.com.