HMT Corporate Finance, led by partner Andrew Thomson and executive Matthew Gordon-Smith, advised Redeem Holdings Limited, a leader in the recovery and recycling of used mobile phones, print cartridges and other electronic devices, on the acquisition of specialist business to business recycler Environmental Mobile Control Limited (emc).
Based in Burton-upon-Trent in Staffordshire, emc was founded in 1991 by Ian and Melissa Austin and employs 35 people across its UK and Continental European operations. The business has built up a strong customer network that relies heavily on its dedication to ensuring its partner organisations can fulfil data protection requirements and meet environmental disposal targets whilst generating a financial return from devices that might otherwise be classed as waste. It has achieved consistent revenue and profit growth in recent years and is forecasting turnover of £4 million in 2011.
Redeem, which will retain its headquarters in Falkirk, was originally established in 1999 and has grown from a UK-based printer cartridge recycling business to an international multi-device recovery and recycling specialist employing around 100 staff.
Curt Hopkins, CEO of Redeem, commented:
“emc complements Redeem’s existing expertise in the consumer, charitable and white-label markets and expands the range of services we can offer to our clients. It also extends our international presence from UK, Ireland and Hong Kong, into Norway and Denmark.”
“HMT provided invaluable support and advice throughout the process helping to deliver the best possible deal for the shareholders and management. We look forward to working with them to grow Redeem.”
Andrew Thomson commented:
“We are delighted to have acted for Redeem in this acquisition, which demonstrates the ambition and commitment of the management team and funders in completing a deal so soon after the MBI. We look forward to working with Redeem in exploiting further opportunities in the future.”