E-Waste Systems plans to acquire logistics solutions company
E-Waste Systems, Inc., an electronic waste recycling and reverse logistics services firm, has signed a non-binding letter of intent (LOI) to acquire a multi-vendor reverse logistics solutions company headquartered in the Southwestern U.S. This LOI represents the fourth targeted acquisition by E-Waste Systems as part of its strategy to become an international provider of e-waste services.
The target’s scope of work includes asset management, professional services and technical solutions including reverse logistics resolution, development and implementation of software and operational processes, inventory control, commodity audit programs and process integration, as well as engineering expertise, refurbishment and remanufacturing capabilities.
This LOI requires that the names of the company and the specific terms of the transaction be kept confidential to protect customers, suppliers and employees, but details will be revealed as soon as the definitive agreement has been executed.
Closing is contingent upon, among other things, due diligence and definitive agreements and completion of two years of Public Company Accounting Oversight Board qualified audits, all of which are expected to be commissioned soon.