Funds Will Fuel National Expansion Strategy
CARROLLTON, TX, August 24, 2005 – Intechra Holding Corporation, parent of wholly owned subsidiary, Intechra LLC, a leading recycler and remarketer of computers and related information technology assets, has received $4 million in equity funding. The financing was led by Chrysalis Ventures, a leading source of equity capital for growth companies in the Southeast and Midwest.
The $4 million Series B preferred equity investment will be used to support Intechra’s national expansion and acquisition strategy, company officials said. Chrysalis’ co-investors in the financing include existing investors Votum Capital, LLC, and Clayton Associates.
Founded in 1987 as Resource Concepts, Inc., Intechra provides the full spectrum of IT asset disposition services including investment recovery, fail-safe data destruction, and responsible, environmentally friendly recycling with liability protection. As a full-service resource for the disposal of technology that has outlived its usefulness, the company refurbishes, remarkets, and recycles computers, peripherals, servers, routers, and telecommunications equipment.
Intechra is able to refurbish and remarket much of the material it receives, recovering maximum value for its customers. Through multiple domestic and international distribution channels, including its retail store, Outlet Computer, www.outletcomputer.com, broker and dealer channels, Intechra offers a wide variety of refurbished name-brand computers and related products.
By using a Department of Defense triple wiping methodology, Intechra ensures that no usable data remain on computer hard drives that are to be resold. The company recycles what it is unable to sell, recycling more than a half million computers and component parts in a single year. Intechra certifies the data destruction and environmentally responsible recycling, protecting customers from future liability claims.
Intechra’s customers include some of the largest global computer manufacturers, as well as major companies such as Southwest Airlines, Weyerhaeuser, and Pier 1 Imports. Strategic partners include Ingram Micro, Gateway Computer Corporation, Salvage Sale, Amherst, and Computer Tech.
Chip Slack, Intechra Holding Corporation chairman and CEO, said, “We are pleased to partner with Chrysalis Ventures, Clayton Associates, and Votum Capital, LLC for this important round of growth financing. In addition to capital, these groups bring valuable strategic insight as Intechra seeks to be the dominant player in this market. This round of funding allows us to continue to grow organically while exploring potential acquisition targets.”
“Intechra serves a market that is large and growing, yet highly fragmented,” said David A. Jones, Jr., chairman and managing director of Chrysalis Ventures. “With its proven service offering and experienced management team, we believe it is well-positioned to become a leader in this important, emerging industry. We have been working closely with the company for over a year, monitoring their progress as they evaluated their capital needs, and look forward to working together.”
Mr. Jones has joined the board of Intechra Holding Corporation.
About Chrysalis Ventures
Founded in 1993, Chrysalis Ventures is a leading source of equity capital for young growth companies in the Southeast and Midwest. Chrysalis invests primarily in early-stage and expansion-stage companies in healthcare information technology and services, media and communications, and business services. Based in Louisville, Kentucky, Chrysalis has more than $200 million under management and has made investments in over 45 companies. For more information, please visit www.chrysalisventures.com.
About Intechra, LLC
Intechra, LLC, privately held, is a leading provider of commercial electronics recycling, refurbishment and remarketing services. Founded in 1987 as Resource Concepts, Inc., the company pioneered electronics recycling at the dawn of the personal computer age. It is a wholly owned subsidiary of Intechra Holding Corporation. Intechra remains a leading provider of comprehensive asset disposition services in this rapidly evolving industry. It sells brand-name refurbished computer equipment through Outlet Computer and outletcomputer.com, and through a vast network of domestic and international resellers. Intechra is based in Carrollton, TX, near Dallas. For more information, please visit www.intechra.com.