Swedish Firm Invested in IT-Recovery Services
In October last year, Swedish company Elanders AB signed a contract to acquire 70 percent of the shares in Swedish company Azalea Global IT AB, which is specialized in value recovery services regarding IT equipment.
Azalea Global IT manages the entire chain from purchasing used IT equipment and restoring and resetting it to then selling it to a network of customers, Elanders gave account. The acquisition of Azalea is a part of the company’s investments within sustainable services that contribute to a circular economy.
Value recovery services makes up an important part of the firm’s service area Life Cycle Services and through it “Elanders helps its customers handle their outdated IT equipment such as cell phones, computers, network equipment, servers, monitors and printers”. Since a large part of these products’ environmental impact comes from the manufacturing process, the goal is to extend their lives as long as possible. In cases where a product has reached the end of its useful life, it is recycled in the most environmentally friendly way. Elanders also ensures that all sensitive data is erased from the equipment to prevent company secrets or personal information from coming into the wrong hands, the company said. Currently, many items were used three or four years before being sent to recycling. Significant environmental gains are instead generated by restoring and reusing them for another three or four years.
By its own account, Elanders has been active for many years in Value Recovery Services on the European and Asian markets. The acquisition of the Swedish company Azalea Global IT AB provides it with a stronger foothold on the Nordic market. “Azalea is specialized in Value Recovery Services and manages the entire chain from purchasing used IT equipment and restoring and resetting it to then selling it to a network of customers,” the buyer underlined. “Many of these customers want to reduce their environmental impact by buying used IT equipment.”
The acquisition of 70 percent of the shares in Azalea was intended to be finalized in the fourth quarter of 2020. Elanders has an option to acquire the remaining shares in the company, which can be used in 2024.
www.elanders.com
www.azaleait.se
(Published in GLOBAL RECYCLING Magazine 1/2021, Page 22, Photo: TomaszSupel / pixabay.com)
