CSI LifeCycle Leasing has acquired Germany-based IT asset disposal (ITAD) company tradefinity for an undisclosed sum.

With more than 15 years of experience, the acquired firm is engaged in offering IT services, refurbishing and remarketing used IT equipment.

tradefinity will join CSI LifeCycle Leasing’s European sister ITAD companies such as EPC Global Solutions UK and EPC Global Solutions Slovakia.

With the acquisition of the German firm, CSI Leasing, which owns CSI LifeCycle Leasing, now has 20 ITAD facilities across the globe and bolsters its capabilities in Europe.

tradefinity will add 30 employees in Frankfurt and Hamburg locations who manage 1000,000 assets annually.

CSI LIfeCycle said the deal will allow it to provide ‘sustainable and secure’ ITAD services in-house for medium and large enterprises.

tradefinity founders Jürgen Schultes, Sebastian Haeckel, Alexander Graf and Paul Knowles will continue to manage the firm.

CSI LifeCycle Leasing managing director Bernhard Schneider said: “tradefinity has built an exceptional business, along with a state-of-the-art ITAD facility. Their highly-skilled team and the well-established remarketing platform is a tremendous assets to the CSI family.

“CSI LifeCycle Leasing GmbH has been working with tradefinity to process lease returns for years, so we have first-hand experience with their professionalism and high level of service.”

In a joint statement, tradefinity management team said: “We have dedicated our lives to establishing tradefinity as a leading ITAD provider in Germany and are excited for the opportunity to join a global ITAD business with similar exceptional services, values and mission.”

“Knowing that our company will be in good hands for decades to come is a wonderful feeling. We are thrilled to join the CSI family.”