11 Mar TES to Acquire Majority Stake in TSI
Press release: 11-March-2019 Back to overview
TES to Acquire Majority Stake in TSI
- Acquisition adds an established IT refurbishment capability to TES’s suite of services in Europe
- TSI will be integrated into TES UK immediately
- TSI Director John Doble will join the TES UK leadership team
SINGAPORE – March 1st, 2019 – TES has acquired a majority stake in Technology Supplies International (TSI), a leading Refurbishment and Products Sales organisation. Since formation in 2009, TSI has provided technical refurbishment and product sales globally, working with leading Retailers with Take-Back and Trade-In programme.
The acquisition further develops TES’s vision to deliver more connected lifecycle solutions to their clients throughout Europe.
TES Europe GM, Steve Graham, said “the addition of TSI enables TES to access significant volumes of material, combined with a technical capability that is on par with Tier 1 Service Providers and OEMs. Furthermore, the established e-commerce and trade-in platforms of TSI, Stock Must Go and Cash4tech, will enable TES to access sales channels closer to the end user, making our time to market far more streamlined and profitable.”
“Today marks a step change for TSI. TES is widely recognised as a global leader in Product Lifecycle Management and their platform will allow us to bring new opportunities and capabilities to the market” said John Doble, TSI Director.
The integration of TSI will help accelerate growth and overall client engagement via 36 sites across 21 countries, providing an owned/operated geographic platform that is unmatched in this space. TSI’s management team will join TES UK as this strategic combination reinforces TES’s overall growth strategy.
TES is backed by Navis Capital Partners, one of southeast Asia’s largest private equity companies with over US$5 billion under management. Jean-Christophe Marti, Senior Partner at Navis, commented: “Integrating a high-end refurbishment capability into our suite of services in Europe is a key part of our strategy to build a global circular economy leader around the TES platform.”
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