Encompass Acquires Consumer Electronics Division of Herman Electronics

Lawrenceville, Ga., July 24, 2012 – Encompass Supply Chain Solutions, Inc. (ESCS), a leading provider of forward and reverse logistics for a diverse range of electronics products and replacement parts, today announced it has agreed to purchase the consumer electronics assets of Herman Electronics, Inc., a top distributor of factory original electronics replacement parts and accessories.

Herman is exiting the CE market to focus on its Broadcast and Professional Audio Visual materials distribution business. Under the agreement with Encompass, Herman will assist in directing existing and prospective customers to ESCS division Encompass Parts Distribution for CE parts and accessories. Herman and Encompass are both long-standing CE parts distributors with decades of experience in the industry.

“Consumer electronics remains a core segment of our business, and we are committed to continuing to serve the CE repair market,” said Robert Coolidge, ESCS president and CEO. “We are excited to be partnering with Herman to leverage our footprint and infrastructure to ensure their customers receive the same level of superior service they have come to expect.”

The two companies will work together to notify customers and manufacturers of the transition. Jeffrey Wolf, executive vice-president of Herman, said he is confident that Herman customers will benefit from Encompass’ expertise, expanded product offerings and comprehensive capabilities.

“When evaluating potential options for our consumer electronics business, Encompass topped the list,” said Wolf. “Their experience, resources and dedication to exceptional service will be a significant benefit to our customers.”

Wolf will continue to be engaged in customer relations with legacy Herman CE customers and new customers as a representative of Encompass.

“It is very important to Herman that our customers experience minimal disruption and have a positive experience during the transition,” said Wolf. “We intend to work closely with Encompass to make the process as seamless as possible.”

About Herman

Herman started in 1963 with a single location in Miami, Florida and quickly became one of the largest factory authorized original replacement parts distributors in the U.S. serving the consumer electronics repair industry. Since its inception, Herman has added product lines and services that have broadened its market focus to include broadcast, professional audio visual, and security materials supply. Herman is based in Miami, FL with additional distribution facilities in Georgia, New Jersey and Nevada.

About Encompass Supply Chain Solutions, Inc.

Encompass is a market leader in forward and reverse supply chain management and high-tech repair services for a diverse and expanding range of consumer electronics, computer, major appliance and imaging products. Encompass, through its business units Encompass Parts Distribution and Encompass Service Solutions, provides end-to-end solutions for OEMs, retailers, independent dealers and third-party administrators.

Encompass manages all stages of the product lifecycle, including finished goods and replacement parts logistics, board repair and product refurbishment services, returns management, asset value recovery and eco-friendly disposal. For more information, please visit encompass.com.