Comerica Bank Provides Financing to Support ERI’s Continued Growth
NEW YORK--(BUSINESS WIRE)--Aug 21, 2018--ERI, the largest fully integrated electronics and IT asset disposition (ITAD) provider and cybersecurity-focused hardware destruction company in the United States, has announced that it has engaged in the largest credit facility in the company’s 16-year history, to be provided by Comerica Bank.
“After year upon year of steady growth, the demand for our unique capabilities and innovative technology and services has pushed us into an accelerated growth mode once again,” said John Shegerian, ERI’s Co-Founder and Executive Chair.
The privately held company is not disclosing the specific details of the financing but has announced that it is working with Comerica.
“It’s good to be working with our friends at Comerica – a forward-looking, sustainable financial services organization to begin with,” added Shegerian. “Plus, they happen to also be the world’s leading bank in the environmental services sector, so it makes sense that we’d turn to them for our financing needs.”
“Through innovation, ERI has already transformed how businesses in the United States recycle electronic waste,” said Joseph Ursuy, Senior Vice President & Manager of the Environmental Services Department at Comerica Bank. “We are excited to partner with them as they continue to innovate and lead their industry to meet the pressing ITAD and data destruction needs of businesses all over the world.”
ERI is the largest fully integrated IT and electronics asset disposition provider and cybersecurity-focused hardware destruction company in the United States. ERI is to de-manufacture, recycle, and refurbish every type of electronic device in an environmentally responsible manner. ERI has the capacity to process more than a billion pounds of electronic waste annually at its eight certified locations, serving every zip code in the United States. ERI’s mission is to safeguard organizations, people and the environment. For more information about e-waste recycling and ERI, call 1-800-ERI-DIRECT or visit .
View source version on businesswire.com:https://www.businesswire.com/news/home/20180821005628/en/
Paul Williams, 310-569-0023
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS DATA MANAGEMENT HARDWARE SECURITY SMALL BUSINESS MANUFACTURING ENGINEERING PROFESSIONAL SERVICES BANKING FINANCE ENVIRONMENT
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PUB: 08/21/2018 02:34 PM/DISC: 08/21/2018 02:34 PM