JACKSON, Miss., Jan. 11, 2006 – Information technology asset disposition company Intechra Holding Corp. today announced that the company has secured $12 million in new equity funding led by Richland Ventures of Nashville.
Intechra is using the $12 million investment primarily to fund acquisitions that support the company’s overall growth strategy.
“Size, scale and financial stability are key in selecting a partner in the IT asset disposition industry,” said Intechra CEO Lynn C. (Chip) Slack. “This additional infusion of equity capital significantly enhances our ability to complete our growth plan over the next two years, including our global growth strategy.”
Richland’s co-investors in the financing include existing Intechra investors Chrysalis Ventures of Louisville, a leading source of equity capital for growth companies in the Southeast and Midwest; and Clayton Associates in Nashville, which provides early stage and growth equity capital to companies in the Southeast. Richland provides expansion capital for medical devices and technology companies, healthcare service, and other diversified service companies.
With its recently-completed merger with RetroBox, Intechra is the largest full-service information technology (IT) asset disposition company in the country. Intechra helps large businesses retire IT assets such as personal computers, servers, monitors and printers in compliance with federal privacy regulations, state and local environmental laws and in-house policies. The company provides disposition for personal computers, servers, networking equipment, UNIX systems, monitors and printers.
The company has approximately 210 employees in three processing facilities and 10 sales offices across the country. With annual revenues of $40 million in a rapidly-growing industry, Intechra is the only IT asset disposition company with processing facilities in the eastern, western and central regions of the United States.
Additional information about Intechra can be accessed at the company’s website at www.intechra.com.