Acquisition by Redeem Holdings Limited of Mobilepoint and Insitu
HMT, led by partner Andrew Thomson and associate director Peter Wear, advised Redeem Holdings Limited (“Redeem”), the leading international provider of mobile phone and electronic gadget recycling and recommerce services, on the acquisition of Eco Mobile Green Center S.L (“Mobilepoint”) and Insitu Moviles S.L (“Insitu”), a leading mobile phone recommerce and repair business based in Madrid, Spain.
Redeem Holdings Limited has extended its European base with the acquisition of two Madrid-based companies: Eco Mobile Green Centre SL (trading as Mobilepoint) and Insitu Moviles SL. The acquisitions add repair and logistics capabilities to the Redeem Group, whilst also enhancing their existing mobile recycling and take-back management (recommerce) expertise.
Redeem is already the UK’s largest mobile recycling company and these acquisitions enable Redeem to roll out its innovative processing platform and refurbishment capacity throughout Europe. The company now operates in 22 countries.
Redeem Holdings Limited is a global leader in the provision of recommerce, recycling and refurbishment of mobile and electronic devices for mobile network operators (MNOs), retailers and corporates. Redeem’s direct-to-consumer services are delivered through their recent acquisition: Eazyfone and its leading mobile consumer brand, Envirofone. Corporate electronics recycling is handled through our sister company: Emceurope.
Around 95% of the traded-in devices Redeem handle are data-wiped, refurbished and resold. The 5% that cannot be restored are fully recycled, leading to zero waste going to landfill. Redeem provides the data and certification to satisfy the WEEE Directive and high quality CSR programme.
Claes Svensson, CEO of Redeem, commented:
“The acquisitions of Mobilepoint and Insitu Moviles take Redeem further into Europe, by building our recycling and repair capabilities and providing access to major contracts with Spanish mobile network operators and large corporates. Spain is a growing market for electronic devices. These latest acquisitions will allow us to give Spanish customers enhanced opportunities to trade up to the latest technology by obtaining the optimum value for their used devices. Mobilepoint and Insitu Moviles provide Redeem with the perfect platform to roll out new services into the Spanish market allowing us to replicate the success we have achieved in other markets across Europe.
We would like to thank HMT for their invaluable expert advice throughout the acquisition, particularly given the specific challenges faced when executing a cross-border transaction. We look forward to continuing working with them as our advisors as we grow the business further.”
Alfonso Gil, former owner of Mobilepoint and Insitu Moviles, commented:
“I am delighted that we are joining the Redeem family: the foremost mobile phone recommerce specialists in Europe. Their unique business model adds value to both mobile network operators and retailers – and their customers. The customers get top prices for traded-in mobile devices. The operators and retailers benefit from Redeem’s ability to extract the best value from the sales of the refurbished phones. We are looking forward to helping Redeem grow the business in Spain.”
Peter Wear commented:
“HMT were once again delighted to work closely with Redeem’s Chairman, Trevor Bayley, and CEO, Claes Svensson, as they continue to grow the business both organically and through strategic acquisitions. As well as providing additional recycling and repair capabilities, the acquisitions of Mobilepoint and Insitu further accelerate the group’s expansion into key European markets.
HMT have now advised the team on four acquisitions over the last three years and we look forward to working with them again as the group continues implementing its growth strategy.”