Austin, Texas-based Round2 Technologies Inc. has announced the acquisition of Monitex, a CRT (cathode ray tube) monitor reuse and recycling company based in Grand Prairie, Texas, and the formation of Round2 Monitex. The combined company will be headquartered in Grand Prairie.
According to a press release from Round2 Monitex, the acquisition enables the company to deliver a comprehensive recycling solution from its 183,000-square-foot plant in the Dallas/Fort Worth Metroplex.
Round2 choose to relocate its headquarters to Monitex’s Grand Prairie location because the Dallas/Fort Worth Metroplex offers logistics advantages, says Ian Bagnall, CEO of Round2 Monitex. The facility also offers well-organized, intelligent processes and a variety of processing equipment, he adds.
Round2 operates a 35,000-square-foot facility near the Dallas/Fort Worth Metroplex, which the new company will use to triage incoming electronics. Its Austin location will process high-tech assets from the company’s asset disposition clients, while the headquarters’ plant will process lower-grade materials, Bagnall says.
“Our clients have been asking for a vertically integrated partner to reduce their costs while providing a closed-loop recycling solution,” Bagnall says of the impetus for the acquisition.
Ferris Segovia, former president of Monitex LLC, has been named senior vice president of Round2 and is leading the company’s CRT processing division. Additionally, all Monitex employees and management staff have been retained.
“Round2 has been a valued customer since 2005, and we clearly share a complimentary and synergistic mission,” Segovia says. “Our clients, both Fortune 1,000 and e-waste collectors, will benefit from Round2’s additional capabilities related to remarketing and repair."
Monitex was founded in 2002 and is a national service provider for recycling and refurbishing of CRT products. The company reportedly processed more than 36 million pounds of CRT products in 2008, diverting more than 7 million pounds of lead from landfills.
With the addition of Monitex, Round2’s offerings now include asset management services (test, repair and certified data destruction), product remarketing (B-channel sales, systems, parts and components), recycling (reverse logistics, glass-to-glass CRT recycling and brand protection programs) and customizable reporting.
Donald Hackett, Round2 chief strategy officer, says the company’s leadership team is executing a 1,000-day plan to increase its market share. “We believe there is an oversupply of profiteering e-waste collectors, presenting a substantive disintermediation opportunity.”
Bagnall says the company will be looking to increase its geographic reach in addition to vertically integrating its operations through future acquisitions.