The Corporate Finance team at CLB Coopers has supported Morecambe-based ICT Reverse through a multi-million pound acquisition by mobile re-manufacturing company, EcoRenew.
With over 16 years’ experience in data disposal and electronic recycling, ICT Reverse will work closely with its new partners to provide additional services to their portfolio for clients whilst acting as a base for the group in the UK and Europe.
ICT Reverse is the first of many acquisitions globally for EcoRenew and will add to the bases the company currently has in Hong Kong, Tokyo, Dallas and Dubai.
The two companies will still operate as different entities with no changes in the employment for the staff at the Morecambe base in White Lund.
EcoRenew CEO, Mark Chamber, said, “ICT Reverse is highly regarded within the industry. With impeccable accreditations, outstanding levels of service and an experienced team, it was an obvious fit for the Eco Renew Group both commercially and culturally.”
Craig Smith, founder of ICT Reverse, will remain with the business taking the role of European MD.
He commented, “We see this as a great opportunity for ICT Reverse to not only join a fast growing and industry-respected company, but also to migrate our service provision globally.”
Rob Richardson, Senior Director in the Corporate Finance team who advised ICT Reverse on the transaction, commented, “It was a pleasure to be able to support the ICT Reverse management team throughout the transaction and we look forward to working with them in what looks set to be a very exciting future for the business as it embarks on its plans for further growth with EcoRenew”.View all news