The asset recovery company acquisition will further strengthen Sims Recycling in delivering global solutions for unwanted IT systems, according to the firm.
Sims Recycling global chief executive Graham Davy said: Technorecycles in house expertise and infrastructure ideally compliments our own business model.
Technorecycle provides take-back, registration, secure data destruction and refurbishment of surplus IT equipment. Existing clients include major names in banking, insurance and other industries.
Former owner of Technorecycle Thomas Wolff will continue as managing director of the German asset management operation for Sims Recycling Solutions.
He said: I am convinced that I have found the right partner for the further development of the company. With Sims Recycling Solutions international asset management and asset recovery expertise, we can deliver additional benefits for our customers, create additional added value and offer a recovery concept on a global level.
It is hoped the acquisition will enable Sims Recycling to better provide the German and Central European markets with electronic asset management services. Additionally, Technorecycle will be able to offer clients added value from surplus electronic assets by remarketing refurbished items through Sims Recycling. Any IT equipment which cannot be reused will be fully recycled.