Environmental Capital Partners, along with its affiliates, has acquired the assets of Intechra Holding Corp. Intechra is the largest independent IT asset disposition firm in the United States.
ECP acquired the assets from its Marathon Asset Management, through Intechra Group, LLC, a newly formed company.
Affiliates of Marathon have also become significant shareholders in Intechra by converting a substantial portion of Marathon’s debt in IHC to equity in the new company, according to a news releasae from Intechra. "The IHC management team will continue in place with Intechra and remains committed to the vision of being the global leader in electronics lifecycle management services," the news release states.
"We are delighted with our investment in Intechra. By providing industry leading data security, environmental compliance and client service to many of the largest companies in the country, Intechra is a perfect fit with our broader mission to promote the growth of companies that enhance environmental sustainability," says Robert Egan, a managing partner of ECP. "Our investment provides the business with growth capital to expand and to capitalize on the tremendous growth opportunity in IT asset disposition services and global markets for refurbished equipment."
"This transaction validates our business strategy and confirms the market opportunity for responsible corporate electronics recycling and disposition," says Intechra CEO Michael Profit. "Our relationship with ECP and Marathon will provide long-term financial strength and new growth capital for our business and enable us to build upon our leadership position by continuing to offer clients the highest level of service at a time when many others in the industry are struggling."
"Marathon has had the opportunity to work with IHC for almost two years, and we continue to be impressed with the strength of its management team and its reputation in the IT services industry," says Jason Friedman, a managing director at Marathon. "We are committed to ensuring that Intechra continues to be an industry leader that excels at data security, environmental stewardship and financial return for enterprise clients."
IDC Research Manager David Daoud, a top ITAD industry analyst and developer of the Green Recycling and Asset Disposal for the Enterprise (G.R.A.D.E.) certification, views the transaction as a positive move for the company. "IHC was one of the first to achieve IDC’s G.R.A.D.E. certification," says Daoud. "This transaction should serve to further strengthen the business’s delivery of best practices in environmental stewardship and security for IT assets."