TES, a Navis Capital Partners-backed e-waste recycling service in Singapore, on Friday announced that Japan-based Sojitz Corporation has acquired a minority stake in TES-AMM JAPAN K.K.
With this investment, TES can combine its capability with Sojitz’s experience in metals recycling, TES said in a statement.
“TES’s mission is to make a decade of difference by securely, safely and sustainably transforming and re-purposing 1 billion kilograms of assets by 2030,” said TES chief executive officer Gary Steele.
Sojitz will partner with TES to promote TES services in Japan, and Sojitz’s network will leverage TES’s lithium-ion battery recycling and energy storage businesses, the company added.
Headquartered in Japan, Sojitz is engaged in trading of goods, manufacturing and selling products, providing services, and planning and coordinating projects in Japan and overseas.
Sojitz also invests in various sectors including automobiles, aerospace, medical infrastructure, energy, mineral resources, chemicals, agricultural and forestry resources, consumer goods and industrial parks. The group consists of approximately 400 subsidiaries located around the world.
TES is backed by Navis Capital Partners, one of Southeast Asia’s largest private equity companies, with over $5 billion under management. Navis, which invested in TES in May 2013, owns 73% stake in the company, according to information on its website.
Founded in 2005, TES provides electronic waste, recycling and IT asset disposal services. Established in Singapore, the company operates in more than 30 locations globally.