EGO Technology Expands with UCan Acquisition
Deal News | Feb 17, 2025 | HMT LLP
EGO Technology, a specialist in secure IT data erasure and disposal, has acquired UCan Secure IT with advisory and support from HMT LLP. This strategic acquisition, funded by Growth Lending, positions EGO Technology to offer comprehensive end-to-end IT hardware disposal solutions, enhancing its capital capabilities for further growth in the fragmented IT disposal sector. The acquisition is expected to amplify EGO's position in the circular economy by integrating UCan's recycling and streaming functions, thereby enabling a vertically integrated model that optimizes material recovery, cost efficiency, and value generation within the sustainable IT disposal space. HMT acted as the buy-side and debt advisor, providing crucial support throughout the due diligence process and ensuring the successful management and completion of the deal. This acquisition marks a significant milestone in EGO's development, paving the way for further mergers and acquisitions underlined by a commitment to sustainable practices.
Sectors
- IT Disposal and Recycling
- Corporate Finance Advisory
Geography
- United Kingdom – Both EGO Technology and UCan operate their services primarily in the UK, and the transaction took place within this geographical scope.
Industry
- IT Disposal and Recycling – EGO Technology and UCan operate within the IT disposal and recycling sector, focusing on secure data erasure and disposal services as part of their business operations.
- Corporate Finance Advisory – HMT LLP provided corporate finance advisory services, managing the acquisition process and debt structuring for the transaction.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| EGO Technology | Buyer | Company | A specialist in secure IT data erasure and disposal with a focus on providing sustainable recycling solutions. |
| UCan Secure IT | Target | Company | Provides waste IT equipment sorting and recycling services, including nationwide collection and secure data disposal services. |
| HMT LLP | Corporate Finance Advisor | Company | Advised EGO Technology on the acquisition and acted as the buy-side lead advisor and debt advisor. |
| Growth Lending | Funding Partner | Company | Provided the financial support needed for EGO Technology's acquisition of UCan. |