SCHENECTADY, N.Y.--(BUSINESS WIRE)--Contec Holdings, LTD (“Contec” or the “Company”), the market leader in repair and refurbishment services business, today announced that it had signed definitive agreements to acquire substantially all the assets and operations of Replico Corporation (“Replico”).
Headquartered in Morgan Hill, California, and operating state-of-the-art facilities in Reno, Nevada, and Charlotte, North Carolina, Replico’s more than 500 employees provide world-class returns management and related logistics services for a wide array of customers, technologies and industries including some of the world’s largest cable and IP based multiple-system operators (MSOs).
“We are delighted to combine these two companies and create a one-stop solution for high quality and cost effective returns management services for customers,” said Hari Pillai, President and Chief Executive Officer of Contec. “The added footprint that Replico provides allows us to process returns close to end-users in key markets while cutting edge IT tools allow instantaneous synchronization with customer billing and tracking systems. With Contec’s QuickTest solution we are able to rapidly test and service returns before returning them to productive use thus improving asset utilization and reducing capital investments for our customers. For a smaller subset of returns that require more extensive repairs, we will seamlessly leverage Contec’s low-cost repair locations to deliver the unique blend of agility and cost that fits each customer.”
“I am delighted to have the Replico team join the Contec family,” said Michael Whitehead, CEO, Owner and Founder of Replico. “Customer feedback to the acquisition has been very positive as customers can immediately see the opportunity to streamline the service supply chain and eliminate touch points and hand-offs thus driving out cost and complexity and increasing simplicity and speed.”
The acquisition, which will be funded from Contec’s available funds, is due to close on January 31st subject to the completion of customary due diligence. All current Replico employees are anticipated to transition to become Contec employees.
About Contec
Contec is the market leader in providing repair and refurbishment services to a wide range of industries including customer premise equipment for cable, satellite and IP based MSOs. Contec is headquartered in Schenectady, New York. Learn more at www.gocontec.com