Under the Symbol:
DGSE Subsidiary Acquires Another ITAD Company
Monday, August 5, 2019 9:00 AM
DALLAS, TX / ACCESSWIRE / August 5, 2019 / DGSE Companies, Inc. (NYSE AMERICAN:DGSE) (“DGSE” or the “Company”) today announced that its wholly-owned subsidiary Corrent Resources, LLC has completed the purchase of Teladvance Partners LLC, an IT-asset-disposition (“ITAD”) company. In May 2019, Corrent purchased the assets of two other ITAD companies, Echo Environmental, LLC and ITAD USA, LLC.
Teladvance, headquartered in Addison, Texas, focuses on managing end-of-life processes for IT assets, including those of public companies and some of the world’s best-known brands seeking to reduce overall IT costs and dispose of unneeded equipment in a secure and ecologically-responsible manner.
“We are elated to introduce Teladvance’s customers to the Corrent family of recommerce companies and further enhance the level of ITAD services offered to them through Corrent’s deeper resources,” said Rob Winchester, Teladvance’s Director of Business Development. “We are committed to making these greatly needed services available to our customers. And combining Teladvance with Corrent allows us to offer them at a truly world-class level,” added Winchester.
DGSE believes this acquisition will bring not only promising synergies of cost reductions and efficiencies, but also contribute to revenue and earnings accretion to shareholders. And it further advances DGSE’s ongoing strategy to expand its presence in the environmentally friendly recommerce sector.
“We believe this latest acquisition will further accelerate Corrent’s growth and enhance its brand by expanding its products, service portfolio and expertise in the ITAD arena. We are proud to welcome Teladvance to the Corrent team, and we look forward to accomplishing great things together” said Tommy McGuire, Corrent’s President.
DGSE is a leading wholesale, retail and recommerce dealer, headquartered in Dallas, Texas. Its common stock trades on the NYSE AMERICAN exchange under the symbol "DGSE”.
This press release includes statements that may constitute “forward-looking” statements, including statements regarding the potential future growth, expansion and the success of business strategies, acquisitions, and lines of business. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, market conditions and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release except as required by law.
DGSE Companies, Inc.
13022 Preston Rd, Dallas, TX 75240
SOURCE: DGSE Companies, Inc.