Fri, 21 Mar 2025 | BUSINESS SALE
Secure IT disposal specialist EGO Technology has bought Bradford-based peer Ucan Secure IT.
The deal was completed after EGO received £3.1 million from Growth Lending.
Ucan was set up in 2010 by Rob Seal from a small garage in Leeds. The idea was to create a recycling business that would help the environment whilst also supporting the local community with long-term job opportunities. At that point Ucan was a 1-man band operation but it now operates from multiple sites in West Yorkshire and employs over 20 full-time staff.
It offers nationwide collection services to UK businesses and organisations such as schools, universities, trusts, councils, and corporates to help remove all redundant IT equipment from their premises. It performs full asset management and secure data disposal services for all its customers.
Burton on Trent-based EGO also specialises in secure data erasure, recycling and resale of redundant IT equipment. EGO also provides its clients with detailed environmental compliance reporting.
The acquisition by EGO is an opportunity to expand the group's combined offering in the Waste Electrical and Electronic Equipment (WEEE) sector and further support the circular economy. The new group will employ about 50 people.
Ian Austin, chief executive at EGO Technology, said: "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, said: "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.
Andrew Thomson, managing partner at HMT, said: "By joining forces, the group will now be able to provide customers with a complete secure IT disposal service line.”
Growth Lending provides growth finance to high-growth businesses across the UK through solutions such as term loans, revolving credit facilities, and bespoke funding products.
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