Li Tong Group Receives US$45mn Capital Investment
Olympus Capital Asia Partners with LTG to Battle Growing Global E-waste Challenges
Li Tong Group, LTG, the world’s leading provider of Reverse Supply Chain Management (RSCM) services for the technology and telecomm industries, today announced an investment of US$45 Million from middle market private equity firm Olympus Capital Asia. The investment will enhance research and development efforts as well as expand the scope of services LTG offers.
Founded in 2000, LTG specializes in the recovery, re-use and re-manufacturing processes of both Post-Industrial (PIR) and Post-Consumer Recycling (PCR) for many of the world’s top Fortune 100 Hi-Tech electronics original equipment manufacturers (OEMs) and consumers.
The company provides RSCM services for mobile devices, information technology and telecommunications equipment products and components. LTG currently employs more than 1,200 professionals and operates more than 20 facilities around the world.“We are pleased to have Olympus join LTG as we continue our commitment to providing the world with the most commercially and environmentally sustaining e-waste solutions,” said Linda Li, LTG’s Chief Strategy Officer. “Olympus’ expertise and network within cleantech and environmental sectors will be a very important part of LTG’s growth over the next three years, especially in emerging markets such as India and China.”
The proliferation of electronic and mobile device usage paired with shortened product lifecycles presents many challenges and opportunities for repurposing and reusing e-waste. Globally, e-waste resulting from mobile phones, computers and other IT and telecommunication devices is expected to grow at a compound annual growth rate (CAGR) of 18.3 percent from 2010 to 2017, reaching 43.8 million tons by the end of 2017. Driven by stricter regulations governing e-waste management, better environmental awareness and economic conditions more favorable to sustainability, it is expected that a greater portion of e-waste will be reused or recycled. Post-industrial recovery is estimated to be a US$5 billion market, while the post-consumer recycling market is even bigger at an estimated US$15 billion.
“E-waste represents the fastest growing segment within the recycling vertical,” said Alexander Lui, Managing Director of Olympus Capital Asia/Asia Environmental Partners. “LTG is the world’s foremost authority on reverse supply chain management and is well positioned for high growth opportunities within the e-waste sector. In particular, the company has an excellent customer base with partnerships with many of the world’s leading technology firms and is strategically aligned with some of the most promising segments within e-waste: the post-industrial recovery segment; the telecommunications equipment business; and China’s post-consumer recycling market.”