TAMPA, Fla., April 10, 2012 /PRNewswire/ -- Creative Recycling Systems ("CRS") today announced its recapitalization and strategic partnership with Intersection, LLC. Intersection is bringing capital, industry expertise and business-building acumen that is intended to provide step function growth of CRS. The partnership will be enabled by CRS's strong history in environmental leadership and innovation and will be focused on market expansion, brand recognition, customer partnerships, innovation, operational excellence and overall market awareness of the critical importance of responsible electronics recycling.
Over the last 18 years, Florida-based CRS has been a leader in the development of innovative solutions for electronics products that have reached the end of their useful life with its original owners. CRS supplies small, mid-size and Fortune 100 companies, government agencies, non-profit organizations, educational institutions and concerned citizens with the best technology-based solutions for electronic equipment reuse and recycling. By providing electronic asset disposition management, data security services and by utilizing state-of-the-art processing and separation technology, CRS prevents millions of pounds of electronics from entering the world's landfills each year.
"The Creative Recycling team has dedicated heart and soul over the last 18 years to build a world-class IT asset management and electronics recycling company. We are so excited to partner with the Intersection team to scale our platform globally. Intersection has tremendous relevant experience, will be excellent partners for Creative, and they share a similar passion for excellence in environmental stewardship. Our future together will be rewarding, exciting and fun," said Jon Yob, CRS's CEO.
"We have been exploring, engaging and committing ourselves to the electronics recycling market for quite some time through the collaboration with a true market-making partner. We have found such a partner in CRS and feel privileged to engage in the growth journey with the CRS team," added Rich Rakowski, principal at Intersection.
The strategic partnership was facilitated by Hyde Park Capital Partners, LLC. of Tampa, FL.
About Creative Recycling Systems
Founded in 1994, Creative Recycling Systems is an award-winning global leader in the reuse and recycling of surplus and end-of-life electronics. Working with its worldwide partners, CRS is a pioneer in the development and utilization of state-of-the-art processing and separation technology, including the recovery of rare earth elements found in commercial and consumer electronics. Incorporating cutting-edge technology for the recycling of Liquid Crystal Display (LCD) televisions and monitors, CRS provides the United States with the best solution for the millions of tons of electronics that become obsolete every day. For more information: http://www.crserecycling.com
About Intersection, LLC.
Intersection, LLC. is a business-building sponsor and partner of companies that operate in the renewable resources and healthcare verticals. Intersection's model is to identify and implement seminal events that drive step-function value creation that enhances valuation metrics/multiple. Intersection was one of the founders of ReCommunity, the nation's largest pure play municipal solid waste recycling company. For more information: http://www.intersectionpartners.com.
Creative Recycling Systems, LLC.
SOURCE Creative Recycling Systems, LLC.