SPRINGFIELD, Tenn. – S3 Recycling Solutions recently received R2 certification, the electronic recycling industry’s top credential ensuring proper processes, safety measures and documentation are followed to responsibly recycle technology assets. This announcement comes as long-time businessman and investor Darrell S. Freeman, Sr. acquires majority ownership of the Tennessee-based electronics recycler.
S3’s increased organization maturity is being manifested in external credentialing (R2 certification), an expanded national footprint, and unprecedented revenue and employee growth. Despite the recent economic downturn, S3 closed Q1 2020 at its highest revenue benchmark in company history and achieved 400% growth compared with this time last year. S3 also secured technology recycling contracts with multiple Fortune 500 corporations in the last eight months boosting its growth trajectory and contributing to increased year-end sales.
“S3 is positioned to become a national leader in the electronics and information technology recycling industry,” said Freeman, S3 board chairman and majority owner. “Since joining the organization in 2016, I’ve watched our CEO Rod McDaniel strategically put the right people and processes in place to operate a first-class facility with a powerhouse team. I’m excited to be a part of this growing company.”
Freeman was named chairman of the S3 board in 2016, and this month he became the company’s largest shareholder. His pledge to serve as a mentor and partner to McDaniel has proved to be a fruitful pairing as McDaniel’s executive profile has risen in the last four years. In 2018, McDaniel was named in the Nashville Business Journal’s 40 Under 40, became chairman of the Tennessee Environmental Council board, and led S3 to be named on the NBJ’s list of top small businesses. Last year, he was a speaker at the 2019 National E-Scrap Conference and Trade Show in Orlando, Fla.
S3 has also made recent key hires including, in February, adding electronics recycling industry veteran Rick Dukes to its team as director of operations. The investment in experienced leadership and a 75,000 sq ft warehouse facility in Springfield, Tenn., have been important building blocks as the company grows.
“Our decision to expand our company to a new facility in 2018 and our recent R2 certification have allowed us to attract the best in the business to join our team,” said McDaniel who has presided as CEO at S3 since 2016. “The security and environmental protocols in our warehouse also provide our clients with the peace of mind that their technology assets are secure throughout their entire lifecycle.”
S3’s core business is to provide corporate entities with computer, cell phone and electronics recycling, secure data destruction, decommissioning, and medical and information technology asset disposition. The company helps customers achieve their sustainability goals by managing their surplus electronic equipment and reducing the cost of ownership of their technology assets.
S3 has added 15 jobs to the economy in the last two years, with plans to double that amount in the next 12 months. Over the next five years, the company leadership plans to expand its nationwide platform to provide technology recycling services to more Fortune 500 companies, strategically opening additional warehouses throughout the country. Anchored in Freeman’s business acumen and experience with acquisitions, S3 expects its long-term growth to be both organic – by creating new service offerings – and by acquisition.
About S3 – Stewardship. Security. Sustainability.
S3 Recycling Solutions is a full-service technology recycling firm with an emphasis on cost-effective processes for receiving, sorting, re-purposing and re-marketing electronic assets. We help our customers reduce the cost of ownership of their electronic technology assets, while providing a peace of mind that data security is maintained at the highest industry standards. Since its inception in 2007, S3 has supported a diverse client base throughout the United States and Canada. S3’s vision is to combat our planet’s e-waste epidemic by employing both environmentally and financially responsible processes for a stronger, safer global community. For more information, visit www.s3rs.com