John Shegerian, Chairman/CEO of ERI, the largest fully integrated IT and electronics asset disposition provider and cybersecurity-focused hardware destruction company in the United States, has issued a public statement congratulating all involved participants for Navis Capital Partners’ successful $1 billion sale of TES-AMM to SK ecoplant Co Ltd. earlier this week.

TES-AMM released an announcement Monday that its parent company Navis Capital Partners reached an agreement to sell its entire stake in the company to SK ecoplant Co Ltd. According to reports, the TES-AMM transaction is expected to close in Q2 of this year. TES presently operates 43 facilities around the world that focus on recycling, repurposing or reusing IT devices and electric vehicle batteries.

“With Navis’ announcement this week that it is selling TES-AMM, we at ERI want to congratulate our industry colleagues at both TES-AMM and SK ecoplant for this unprecedented, largest sales event in the history of our industry,” said Shegerian. “This is a win-win scenario for our entire industry sector and a clear indication of the tremendous upside of investing in the future of responsible electronics and battery recycling.”

“We know how important it is to businesses of all sizes to be able to partner with a responsible, sustainable, and fully certified electronics and battery recyclers and data destruction companies they can trust,” added Shegerian. “Thanks to innovative technological solutions and a surging global move in the direction of zero waste, zero emissions, zero landfill and the circular economy, our industry continues to grow in leaps and bounds.”