Environmental Capital Partners, a New York based private equity firm, has acquired the assets of Intechra Holding Corporation, the largest independent IT asset disposition company in th
Environmental Capital Partners, a New York based private equity firm, has acquired the assets of Intechra Holding Corporation, the largest independent IT asset disposition company in the US.
The IHC assets were purchased from its lender, Marathon Asset Management, through Intechra Group, a newly formed company.
Affiliates of Marathon have become significant shareholders in Intechra by converting a substantial portion of Marathon’s debt in IHC to equity in the new company.
The IHC management team will continue in place with Intechra. Terms of the agreement were not disclosed.
‘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 chief executive 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.’
Lazard Middle Market served as financial adviser to Marathon in this transaction.
Intechra Group helps Fortune 1000, large and medium-sized businesses retire IT assets such as personal computers, servers, networking equipment, and data centre equipment in compliance with federal privacy regulations, environmental laws and internal corporate security policies. The company provides nationwide logistics, remarketing, redeployment and recycling through a network of five operations centres and 11 logistics centres.
Environmental Capital Partners is a private equity firm focused exclusively on growth and buyout investments of middle-market companies in the environmental industry.
