Foxconn International / FIH Mobile Subsidiary Invests in CExchange LLC, a Generational Capital Client
Partnership Creates Unmatched Global Wireless Services Offering
DALLAS, Sept. 11, 2014 /PRNewswire/ -- 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.
The two companies will be actively involved with major accounts and prospective clients at the CTIA show in Las Vegas during the week of September 8th. "We felt that there was no better time than during the CTIA Super Mobility Week to announce our new partnership," said Scott Nordhaus, CEO of CExchange. "We are proud of our relationship with FIH and look forward to expanding services with existing accounts, while growing our portfolio of strategic partners through our combined strengths."
To learn more about the services provided by this new partnership, please contact Conrad Huang, Spokesman of FIH, at [email protected] , and Bob Kilinski, CMO of CExchange, at [email protected].
CTIA and the CTIA Super Mobility Week are trademarks of CTIA, The Wireless Association and are neither affiliated with or endorsing anything included in this press release.
FIH Mobile Limited – a subsidiary of the world's largest and fastest growing multinational company in the fields of manufacturing services providers for Computer, Communication and Consumer electronics industries, Hon Hai Precision – is the global leader in the handset and wireless communications manufacturing and service. A truly global company, FIH employs over 110,000 people throughout operations spanning Europe, Asia, and the Americas. To learn more about FIH Mobile Limited, visit www.fihmb.com.
About CExchange
CExchange is the leading provider of retail trade-in and recycling services. The company provides custom retail solutions to meet the needs of a diverse set of clients including several Fortune 500 companies, both online and offline. CExchange is committed to providing services that help consumers get maximum value for their used electronics while protecting the environment through responsible recycling. CExchange has multiple divisions that provide services which include manufacturer representation, reverse logistics and refurbishing, resale and liquidation services.
About SP International, Inc.
SP International, Inc. a wholly owned subsidiary of FIH Mobile Limited, is incorporated in the US state of Illinois.
About FIH Mobile Limited
FIH (2038.hk) is a leading green manufacturing services provider offering a comprehensive array of services for leaders in the handset and wireless communications industries. From product development and design, to manufacturing and assembly, to after-sales services and repairs, FIH uses a customer-focused, highly integrated approach to ensure top-quality execution and rapid delivery of everything needed for partners to compete in a rapidly evolving marketplace. FIH employs over 110,000 people throughout operations spanning Europe, Asia, and the Americas.
About Generational Capital, LLC
Generational Capital, LLC is a Dallas, TX based merger & acquisition advisory firm. Generational Capital wholly owns Generational Capital Markets, Inc., Member FINRA/SIPC. More information can be found at www.gencm.com Generational Capital and Generational Capital Markets are affiliated with Generational Equity, LLC. Generational Equity's website is www.genequityco.com and their online newsroom with recent deal closings can be found at www.gecpress.com.
For more information:
Jessica Mead
972-232-1100
[email protected]
SOURCE Generational Capital, LLC
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