Closed Loop Partners’ portfolio company, Sage Sustainable Electronics, has acquired Relectro, a provider of electronics repair, refurbishment, and logistics services.
Relectro provides electronics refurbishment services, focusing on extending the lifecycle of electronic devices by providing on-demand repair services for wireless handsets, smartphones, computers, laptops, tablets, smartwatches, gaming, and IoT devices.
Customers of Relectro include warranty and insurance firms, mobile device providers, and educational institutions. Relectro has an annual repair rate of over 25,000 devices and operates a 40,000-square facility located 35 miles north of Philadelphia in Telford, Pennsylvania.
Sage Sustainable Electronics is a provider of IT Asset Disposition (ITAD) services specializing in refurbishing and repurposing used IT assets, including smartphones, laptops, and printers, in order to extend their lifecycle and increase recovery value. According to Sage, IT devices are being replaced more often, with an average refresh cycle by IT departments of two years for smartphones, four years for laptops, and five years for printers.
The customers of Sage include Fortune 100 companies that operate in numerous sectors, including finance, healthcare, and defense. Sage processes nearly one million assets annually through its four national repurposing centers in Ohio, Nevada, Maryland, and Pennsylvania. The company was founded in 2014 by CEO Bob Houghton and is headquartered in Columbus, Ohio. Closed Loop acquired Sage in November 2023.
The acquisition of Relectro expands Sage’s offerings into repair services and builds on its existing ITAD services. “This marks an important milestone for Sage as we expand our platform with Relectro. Their wide-ranging partner network and deep technical expertise are key assets to our growth, adding strategic expertise to our platform,” said Mr. Houghton. “Relectro enables us to expand depot repair services for enterprise clients––extending lifecycles, reducing costs, and increasing sustainability.”
“We look forward to this next phase of growth as a part of Sage Sustainable Electronics’ platform,” said Brian Itterly, the founder and CEO of Relectro. “For over a decade, Relectro has provided critical repair services for electronics––a key part of keeping devices in circulation for longer. Today, our repair and refurbishment services complement and build on Sage’s reuse and recovery services, offering a wider range of solutions for businesses across the country.”
“Closed Loop Partners is proud to back Sage Sustainable Electronics’ acquisition of Relectro, laying the foundation for an expanded platform with strong operational processes, complementary geographical locations, and continued progress toward electronics circularity,” said Jackson Pei, the co-head of Closed Loop Partners’ buyout private equity strategy. “We look forward to supporting Sage’s continued growth with their now expanded IT Asset Disposition and repair services.”
New York City-headquartered Closed Loop Partners focuses on building the circular economy through venture capital, private equity, and credit strategies. Founded in 2016, it has invested in companies across material science, robotics, and advanced technologies. The firm’s buyout strategy focuses on acquiring and growing companies across sectors including plastics, packaging, circular technology, and textiles.
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