Brightpoint to purchase repair company to create “worlds most compelling forward and reverse logistics company”
Handset distributor Brightpoint has agreed to purchase Pennsylvanian based repair, remanufacture and reverse logistics firm Touchstone Wireless Repair and Logistics for $80 million (£51.1 million) using its senior revolving credit facility. The deal is expected to be completed by December 31.
Touchstone currently employees 300 trained repair technicians and has “strong relationships” with major wireless handset manufacturers and wireless carries, according to Brightpoint chairman and chief executive Robert Laikin (pictured).
Laikin said the Touchstone purchase would mean Brightpoint could now add repair and reverse logistics to its portfolio across the globe.
“The combination of our companies creates the wireless industry’s most compelling forward and reverse logistics service provider,” he said.
“Touchstone’s innovative asset management and recycling programs are examples of the areas and expertise that we will offer to our customers in more than 25 countries.”
Touchstone Wireless chairman and co-founder Allen Hurley said: “The combination of our companies provides Touchstone with access to greater resources, expands our business by utilizing Brightpoint’s network of customer and manufacturing partners, and strengthens Brightpoint’s product and service portfolio.”