Generational Capital, a leading mergers and acquisitions advisor for privately-held, middle-market businesses, is pleased to announce its Client, CExchange, LLC, has received a strategic investment for thirty percent (30%) of the Company from a subsidiary of FIH Mobile Limited (FIH), SP International, Inc.
CExchange is the leading provider of consumer electronics trade-in services in the US retail sector and an expert in reverse logistics, repair services, asset recovery management, as well as retail sales representation. It provides services to the largest US retailers and largest regional wireless service providers representing tens of thousands of store-fronts. It also provides millions of trade-in appraisals via its partner's websites. FIH, listed in Hong Kong (2038.hk) is the global green handset and wireless communications manufacturing and service industries leader.
FIH is making a strategic investment in CExchange to gain exposure to the consumer electronics trade-in, buy back and reverse logistics businesses in the US and to capitalize on the growth of this aspect of the global handset industry. FIH will leverage CExchange's unique service positioning, its familiarity with the retail and wireless industries and related legal and regulatory requirements, its sophisticated pricing mechanism and information technology systems, as well as its comprehensive network of resale and distribution channels.
The superior retail system technology and processes for trade-in of CExchange, along with its reverse logistics, refurbishing services, and knowledge of the wireless retail space combined with FIH's deep global technology capabilities, scale, and relationships, creates an unmatched suite of services to provide carriers and retailers with low-cost, high-value and high-velocity end-to-end solutions. "FIH Mobile Limited is excited to enter into the US trade-in and buy-back industry and we are pleased to be doing this with the industry leader. Our investment will allow us to take advantage of our combined resources to help significantly grow the re-commerce industry and our combined position within this competitive market place," said FIH Chairman Vincent Tong. "We believe the CExchange management team and their proven success is a great fit with the FIH executive team and our combined resources will provide the ability to deliver value and scale that is unmatched in the global wireless and retail industry. We're excited to see what we can do together in the years ahead," said Mr. Tong. Hunter Howard, President and COO of CExchange said "earning the trust of FIH, based on their thorough review of our capabilities is further validation that our investments in people, technology, and operational processes have been justified. Our ISO certifications and R2 certified facility, end-to-end secure technology, and experienced management team are the reasons for our success, and we are ready to take our company to the next level both in the U.S. and abroad, with the support of FIH." Managing Director Tom Staszak and Vice President Chris Gain led the Generational Capital deal team that advised CExchange on the transaction. "After evaluating numerous proposals from potential partners, the management of CExchange determined FIH Mobile's expertise and worldwide presence were ideal to combine with CExchange's capabilities. The relationship will accelerate both companies' global expansion objectives. This is an ideal situation for two companies that are leaders in their markets," stated Tom Staszak.
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