Arrow Electronics to acquire Redemtech

Consolidation in the electronics recycling industry continues as Arrow Electronics announced Aug. 29 that it would acquire all assets and operations of Columbus, Ohio- based Redemtech. Terms of the deal were not released.

Redemtech is a wholly owned electronics asset disposition (EAD) subsidiary of Micro Electronics.

“Arrow is investing to create a truly global EAD platform and we are excited to join that effort,” Redemtech President and Founder Bob Houghton said in a press release. The acquisition is expected to close in the next 60 days pending customary regulatory approvals. Sales of the Columbus-based company were expected to exceed $60 million in 2012. Clients of the firm include organizations in the financial services, consumer, and government sectors.

Redemtech employs more than 400 people in Ohio, Reno, Nev., and Richmond, Va.

“The acquisition of Redemtech further strengthens our industry-leading position in the EAD market and strategically expands our footprint and capabilities in this fast-growing market. We are excited to welcome the Redemtech team to the Arrow family,” said Paul J. Reilly, executive vice president, finance and operations, and chief financial officer of Arrow Electronics. The company is based in Englewood, Colo.

 

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  1. Arrow Electronics announces another acquisition; Sims Recycling Service acquires E-Structors Inc. « escrapbeat

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