Canada-based Giampaolo Group had owned a significant stake in the Ontario-based electronics recycling company.
The Giampaolo Group of Cos., headquartered in Brampton, Ontario, has acquired GEEP Holdings, a Barrie, Ontario-based company involved in the management end-of-life electronic equipment.
According to the Giampaolo Group, it already owned a “significant share” in GEEP Holdings.
GEEP reports that it processes nearly 200 million pounds of electronic scrap per year and remarkets more than 600,000 electronic products from a total of 14 locations throughout the world and seven locations in North America.
According to a press release issued by GEEP, the deal will give the company the resources it needs to continue its growth.
“GEEP has always been an important part of our business model, and now we will see it as a way to grow our business, both by product/service offering and geographical locations,” says Joe Caruso, CEO of the Giampaolo Group.
In addition to owning GEEP, the Giampaolo Group also owns Triple M, one of the largest metals recycling companies in North America; Venture Steel, a steel service business in Etobicoke, Ontario; and Matalco, an aluminum remelting firm based in Brampton that produces billets.