Sims Group completes acquistion of Lfe Cycle Services
30 May 2008
Sims Group Limited today announced completion of the acquisition of UK- Based Life Cycle Services (LCS). The move will further strengthen Sims' information technology asset management capability and will position Sims Recycling Solutions as one of Europe's leading operators in the high-value B2B market.
LCS (www.lifecycleservices.co.uk) is one of the UK's leading specialists in asset refurbishment, redeployment and secure disposal of ICT equipment. It also owns best-in-class tracking software by which clients can monitor the processing of their technology assets on-line. This software can be rolled out across the Sims Recycling Solutions client base globally.
Jeremy Sutcliffe, Chairman, Europe & Australia, and Executive Director, said, "The LCS acquisition represents a key step in the evolution of Sims Recycling Solutions as a service-led asset management business. The combination of Sims' global infrastructure and LCS' commercial expertise, systems capability and blue chip client base, will enable us to offer the market a powerful multi-national ICT asset management proposition.
"While local or regional contracts will continue to be awarded, multi-national clients requiring uniformity of service standards and cost minimisation outcomes are increasingly seeking asset managers with international or multi-country capability.
"The acquisition will also enable us to realise further commercial and operational synergies from our recent acquisition of RecommIT and our existing e-recycling businesses, and further strengthen our management team."