Based in Burton-on-Trent and Bradford respectively, the companies specialise in the disposal of IT equipment including data erasure, recycling and resale.
The acquisition from EGO looks to expand the group’s work in the waste electrical and electronic equipment (WEEE) industry.
Both EGO Technology and Ucan Secure IT operate zero-waste policies and look to ensure that hardware is managed through either resale or recycling.
Ian Austin, CEO at EGO Technology, said: “Navigating the complexities of an acquisition requires expertise and dedication. We extend our sincere gratitude to the teams at both Growth Lending and HMT.
“Their invaluable guidance and support were instrumental in successfully completing the acquisition of Ucan Secure IT. This is a dynamic addition to the EGO group portfolio, and we look forward to working together to drive growth and capitalise on developing further acquisition opportunities within the dynamic WEEE waste industry.”
Katherine Woodfine, director of debt finance at Growth Lending, added: “We are pleased to support EGO Technology in this milestone acquisition. The company’s strong ESG focus, passion for sustainability, and zero-waste operations perfectly align with our commitment to backing high-growth, responsible businesses.
“We look forward to witnessing EGO Technology and Ucan Secure IT thrive together as they expand their services and uphold the highest environmental standards.”
The transaction was supported by HMT Corporate Finance, Shoosmiths and PKF Francis Clark.
Andrew Thomson, managing partner at HMT, commented: “This transaction represents an exciting new era for EGO, as the acquisition of Ucan strengthens the firm’s position in the circular economy. By joining forces, the group will now be able to provide customers with a complete secure IT disposal service line.
“We are pleased to have advised Ian and the team and look forward to working with them in the future as the business continues on its acquisitive growth journey.”
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