S3 Recycling Solutions acquires iGlobal Asset Management

S3 Recycling Solutions, Springfield, Tennessee, has acquired iGlobal Asset Management, an Anaheim, California-based information technology asset disposition (ITAD) and medical asset disposition company.

The deal became effective July 1 and marks S3’s first location outside of Tennessee, increasing the company’s employee headcount by approximately 17 percent and its annual revenue by 10 percent. This is the company’s first acquisition under current CEO Rod McDaniel and brings S3’s no. of facilities to three, totaling more than 200,000 square feet.

“This acquisition marks a significant milestone for our organization, and it is one component of a strategic five-year plan that the S3 Board is implementing,” McDaniel says. “IGlobal was the right fit for our overall mission. We will leverage its specialty in medical asset resale, which is a S3 service offering that is quickly growing.”

S3 serves more than 300 clients across North America and is on a historical growth trajectory, the company says. Last summer it purchased a building in Springfield, Tennessee, adding 78,000 square feet of warehouse space to its real estate portfolio.

“We now have a facility on the west coast that will be an integral part of expanding our capabilities,” McDaniel says. “S3’s national reach, combined with iGlobal's regional expertise, ensures that clients will benefit from an enhanced service experience. We are excited to welcome the iGlobal team and all its stakeholders to the S3 family.”

“S3 Recycling Solutions’ values and culture made me feel comfortable entrusting my company to them,” iGlobal CEO and owner Shahin Joudat says. “Rod’s vision for the future of the company ensures that iGlobal will reach its fullest potential.”

S3 says this acquisition allows it to further its mission of reducing environmental impact while maximizing the value of retired IT and medical assets. S3 holds certifications in R2 and ISO 9001, 14001 and 45001.

S3 has been named a fastest-growing company by Inc. Magazine for four consecutive years and was named a Best Place to Work by Nashville Business Journal. Additionally, McDaniel was named an Entrepreneur of the Year 2024 Southeast Award winner by Ernst & Young LLP.