Japan’s Sojitz picks minority stake in Navis-backed e-waste recycling firm TES

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.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.