E-waste firm Sage Sustainable Electronics has agreed to acquire electronics recycler Hugo Neu Recycling for an undisclosed amount.
The deal extends the close relationship between Columbus, Ohio-based Sage and Hugo Neu Corp., parent firm of the Mount Vernon, N.Y.-based Hugo Neu Recycling. Hugo Neu Corp. provided startup funding for Sage in 2014 and is its largest shareholder, according to a news release.
Sage, an information technology (IT) disposition company, will significantly increase reuse at Hugo Neu Recycling’s New Jersey facility. Sage will join Hugo Neu Recycling at Hugo Neu Corp.’s 130-acre industrial development at Kearny Point, N. J., while retaining its headquarters in Columbus and facilities in Baltimore, Columbus and Reno, Nev.
"Hugo Neu Corp.'s equity ownership and support has made possible our innovation and rapid expansion, but it is our shared values for service and integrity that will make the integrated business truly valuable to both company's customers," said Sage CEO Robert Houghton. "Sage's industry-leading approach to refurbishing and reusing older electronics, combined with Hugo Neu's 68-year history of responsible recycling, delivers a new level of value and security to business customers nationwide."
Sage's strategy to expand reuse and delay recycling will benefit the company's customers almost immediately, said Alan Ratner, Hugo Neu Recycling president.
The purchase brings Hugo Neu customers proprietary tools such as the Sage Bluebook, which provides values for used electronics, and the Sage Central customer portal as well as a range of IT lifecycle solutions designed for data security, cost reduction and value recovery from used electronics.
In August ER2 Electronic Responsible Recyclers is expanding operations with the addition of a $1.8 million e-waste recycling facility in Memphis, Tenn. The company expanded with its second location, in addition to its headquarters in Mesa, Ariz.
Meanwhile, the United Nations estimates that up to 90 percent of the world’s e-waste is illegally traded or dumped each year. In the U.S. 90 percent of the population own mobile phones. Additionally, 32 percent own e-readers and 42 percent own tablets, according to Pew Research Center. Consumers also are continuing the process of discarding old, unwanted and bulky cathode-ray televisions and monitors in favor of flat-panel displays.