Dallas Electronics Recycling and ITAD Service Group Expands Footprints

SEATTLE (Scrap Monster): The Dallas-based electronics recycling and ITAD service major announced major expansion of footprints through key acquisition. The acquisition of CExchange marks the entry of Echo Consolidated Holdings Group (ECHG) into mobile phone trade-in business.

The ECHG now comprises of four companies- Echo Environmental, ITAD USA, Teladvance and CExchange.

The announcement with regards to the acquisition was initially made in end-February this year. As per the agreement, ECHG had agreed to acquire all of CExchange’s equity interests in return for $1.5 million to CExchange with warrant and call-option agreements. Although the deal is treated as acquisition, it is essentially a loan that will convert into equity, the agreement noted.

The acquisition offers customers with a full range of services including trade-in, returns management, asset recovery and end-of-life recycling. The combined services offered by the two leading companies provide customers with the best-in-class re-commerce services to maximize customers’ returns on their electronics investments.

Tommy McGuire, President, ECHG noted that the acquisition is in line with its strategy of acquiring companies that fit into its resale ecosystem. Hunter Howard, Co-founder of CExchange stated that the deal is a singular opportunity for the company to significantly diversify its service offerings to customers.

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