Friday, August 14, 2009

Intechra bought by New York investor

Business First Columbus

A technology recycling company that operates in Central Ohio has been acquired by private equity investor Environmental Capital Partners of New York.

Terms of the deal for Jackson, Miss.-based Intechra Holding Corp., which runs a facility on Morrison Road in Gahanna, weren’t disclosed. Privately held Intechra has about 500 workers nationwide and recorded $88 million in 2008 revenue.

The company came to Central Ohio in 2005, when it agreed to buy Columbus-based RetroBox LLC. A year later, Intechra bought Chasm Holding Corp. of Columbus, combining a Chasm operation near Rickenbacker International Airport into its Gahanna facility.

Environmental Capital Partners acquired the business from an Intechra lender, Marathon Asset Management. As part of the deal, Marathon converted an undisclosed amount of debt into equity and has become what’s described as a “significant” stakeholder in a newly formed Intechra Group LLC, which has all the assets of the old Intechra Holding.

No staffing changes or facility consolidations are planned as part of the acquisition, a company executive said.

Intechra in 2007 received incentives from the state for the expansion of its Gahanna operations, pledging to double its 100-employee work force as a result.

The company also has operations in Texas, North Carolina, Connecticut and New Hampshire along with 11 logistics centers nationwide.


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