Mobile recycling and after sales support firm Regenersis is to buy Total Repairs Solutions (TRS) for £6.25 million. Regenersis will complete the purchase of the Scottish recycler on shareholder approval, expected September 1.
Regenersis will take TRS’s assets and 500 staff. The takeover will increase its UK revenue by 20 per cent.
Regenersis chief executive Gary Stokes said: “We want to be a more significant player in the market place and to do so, scale as well as being well financed are important.
“TRS is doing very well and offers a complementary service. We are in [economically] troubled times so valuation of business is lower than two years ago. Our clients are encouraging consolidation and using fewer but larger suppliers to fulfill after-sales needs.
“Ours is a fragmented marketplace and the consolidation we are seeing, and in many ways leading, means increased operational scale and synergy opportunities.”
After the acquisition, Regenersis will offer customer care and contact centres, OEM repair and refurbishment and asset recovery and recycling. Combined, Regenersis’ clients include O2, Orange, Vodafone, 3, T-Mobile, Nokia, Samsung, LG, Sony Ericsson, BT, DSGi, Argos and Comet.
TRS chief executive Sergio Tansini said: “We aim to be the leading provider of after-sales support services for OEMs, network operators and retailers offering complete visibility, control and alignment throughout the life of a mobile device.
“Our clients benefit through improved satisfaction, retention, cost management, and a positive contribution to their corporate responsibility.”
Regenersis had revenues of £100 million last year while TRS received £22.5 million. It operates in the UK, Germany, France, Poland, Romania and Russia.
Meanwhile, Regenersis commercial director for environmental and fulfilment services Juney Mistiki and logistics director Dervish Dervish are to both leave after 15 years at the company.
Dervish is to be replaced by Nick Harding, current operations manager at Regnersis. Mistiki’s replacement is yet to be confirmed. Mistiki and Dervish plan to go into partnership to set up a mobile related company.