HMT advised a management buy-in team on the acquisition of Redeem Limited (“Redeem”).
Redeem was established in 1999 and has developed into a leader in the recovery and recycling of used mobile phones, print cartridges and other electronic devices. With operations in Europe and Asia, Redeem also currently works with some of the UK and Ireland’s largest brands to offer innovative customer recycling programmes, including network operator O2 and retailers Boots and Sainsbury’s.
The new management team bring a wealth of experience to Redeem and includes Curt Hopkins, former Managing Director of Vodafone Business Services and Pete Petrondas, founder and former CEO of Eazyfone Group and Envirofone.com. Trevor Bayley, a founding partner of HgCapital, provided funding for the transaction and fully supports management’s strategy to achieve substantial growth both organically and through acquisitions.
Trevor Bayley commented:
“We are delighted to have completed the acquisition of Redeem, a strong and fast growing business providing a great platform to deliver significant growth. With a blend of technical strength and commercialism, HMT quickly grasped and dealt with each key issue and it was great to have them on our side. They were invaluable throughout the process with 24/7 support both in dealing with the big issues and rolling up their sleeves and sorting out the detail. We would not hesitate in recommending HMT and look forward to working with them on the next transaction.”
Andrew Thomson commented:
“We are delighted to have acted for Curt, Pete and Trevor on their acquisition of Redeem. The business provides a solid platform to allow a high calibre management team, supported by an experienced funding partner, with the ability to exploit a number of opportunities and deliver an exciting growth strategy. We look forward to working with them in the future.