Avnet Acquires Asset Disposal Specialist Canvas Systems5:23 PM EST Tue. Jan. 31, 2012
Avnet had acquired Canvas Systems, an independent supplier of IT hardware and services, from Platinum Equity, according to the Phoenix-based distributor.
Canvas Systems specializes in the remarketing, refurbishment and disposal of products in an environmentally-friendly and compliant manner, according to Avnet. It operates in the U.S., U.K. and the Netherlands.
"The acquisition of Canvas Systems enhances our IT lifecycle management services capabilities and supports our strategy to deliver best in class solutions that help our business partners consistently achieve profitable growth," said Jeff Bawol, president of Avnet Technology Solutions, Americas, in a statement. “The [deal] enhances Avnet Technology Solutions’ ability to deliver a seamless solution at any phase in the IT lifecycle and provides its suppliers an additional channel for capturing brand loyalty in the secondary market."
Asset disposal has become a hot service for distributors to offer to solution providers. Earlier this month, Arrow Electronics acquired TechTurn and while Ingram Micro also launched its own IT asset disposition service through a partnership with U.S. Micro.
Canvas Systems was founded in 1998 and was named to Everything Channel's VAR 500 in 2010 and 2011.