Arrow Electronics Acquires Asset Recovery Corporation
Feb. 27, 2012, /Press Release/ – Arrow Electronics, Inc. (NYSE:ARW) announced today that it has acquired Asset Recovery Corporation (“Asset Recovery”), a North American provider of electronics asset disposition (EAD) services.
Asset Recovery offers a comprehensive array of EAD services including data removal, data security, refurbishment, and remarketing of electronic assets, while ensuring compliance with local and national data security and environmental regulations. The company’s customers are concentrated in the retail, manufacturing, healthcare, finance, and transportation industries.
“We are excited to welcome the Asset Recovery team into the Arrow family. This acquisition strengthens our industry-leading services portfolio and strategically expands our customer base in North America,” said Paul J. Reilly, executive vice president, finance and operations, and chief financial officer of Arrow Electronics.
Headquartered in St. Paul, Minn., Asset Recovery has approximately 95 employees. Sales in 2012 are expected to total approximately $20 million.
Arrow Electronics (www.arrow.com) is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. Arrow serves as a supply channel partner for more than 120,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 390 locations in 52 countries.
Source: Arrow Electronics