Singapore-based information technology (IT) company, TES, has acquired 100 percent of the share capital of EGR Beteiligungs GmbH, a leading a leading waste electrical and electronic equipment (WEEE) recycler based in Herten, Germany.
Since forming in 1993, EGR has provided technology recycling solutions across mainland Europe supporting recycling programs as well as business-to-business (B2B) and business-to-consumer (B2C) nationwide takeback solutions. The acquisition further develops TES’s vision to deliver more connected lifecycle solutions to its clients throughout Europe, the company says.
TES Europe General Manager Steve Graham says, “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,” says Christian Winkler, EGR managing director. “TES is widely recognized 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.”
The integration of EGR will help accelerate growth and overall client engagement via 33 sites across 20 countries, TES says. EGR’s management team will join TES Germany as this combination reinforces TES’s growth strategy, the company says.
TES is backed by Navis Capital Partners, Kuala Lumpur, Malaysia, one of southeast Asia’s largest private equity companies. Jean-Christophe Marti, senior partner at Navis, says, “The market is clearly demanding more seamless IT life cycle 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 its formation in 2005, TES has been a circular economy leader focusing on IT life cycle services, offering bespoke solutions that help customers manage the commissioning, deployment and retirement of IT assets.