Arrow Electronics expands into recyling

Melville-based Arrow Electronics Inc. is expanding its services with the purchase of two independent companies specializing in the sale and repair of used electronic equipment, the company said.

It is expected to close in May on the purchase of Converge of Peabody, Mass., a leading provider of "reverse logistics" services, helping companies recycle, refurbish and resell computer and telecommunications equipment.

And Arrow has already completed an acquisition of San Francisco-based Verical Inc., which runs an online marketplace for electronic components and replacement parts for "end-of-life" equipment. An Arrow news release did not specify the purchase date.

Together the companies position Arrow to help clients maintain, recycle or sell older equipment. "These acquisitions complement Arrow's global strategy by providing comprehensive services across the entire product life cycle for suppliers and customers," chief executive Michael J. Long said.

"Reverse logistics is a rapidly growing area, and this acquisition builds on Arrow's global capabilities as a supply chain and logistics expert. The addition of Verical also further strengthens our e-commerce capabilities," Long said.

Converge has 350 employees and offices in Singapore and Amsterdam, and support centers throughout Europe, Asia and the Americas, Arrow said in a news release.