EGO Technology Expands with Ucan Acquisition
Deal News | Mar 21, 2025 | Business Cloud
EGO Technology, a Burton-based IT disposal specialist, has obtained a £3.1m term loan from Growth Lending to acquire Bradford's Ucan Secure IT. Both firms are committed to sustainable practices in IT disposal and recycling, employing around 50 people together. This strategic acquisition aims to enhance their offerings in the waste electrical and electronic equipment (WEEE) sector, promoting the circular economy. The acquisition was supported by HMT Corporate Finance, Shoosmiths, and PKF Francis Clark, with EGO's CEO Ian Austin expressing gratitude for the expert guidance of these teams. Growth Lending's Katherine Woodfine lauded EGO's strong ESG focus as perfectly aligned with their investment ethos.
Sectors
- IT Services
- Environmental Services
- Private Equity & Venture Capital
Geography
- United Kingdom – EGO Technology is based in Burton, and Ucan Secure IT is based in Bradford, with the supporting financial institutions also in the UK.
Industry
- IT Services – EGO Technology and Ucan Secure IT specialize in the secure disposal, erasure, and recycling of IT equipment.
- Environmental Services – Both companies uphold strong ESG principles and zero-waste policies, highlighting their commitment to environmental sustainability.
- Private Equity & Venture Capital – Growth Lending provides growth capital for facilitating acquisitions like EGO Technology's purchase of Ucan Secure IT.
Financials
- £3.1m – Term loan provided by Growth Lending for the acquisition of Ucan Secure IT.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| EGO Technology | Acquirer | Company | Secure IT disposal specialist based in Burton, focusing on sustainability and ESG principles. |
| Ucan Secure IT | Target | Company | Bradford-based IT disposal company specializing in recycling and resale of IT equipment. |
| Growth Lending | Financial Supporter | Company | Provided a £3.1m term loan to facilitate the acquisition. |
| HMT Corporate Finance | Corporate Finance Advisor | Company | Provided financial advice for the acquisition. |
| Shoosmiths | Legal Advisor | Company | Provided legal advice for the transaction. |
| PKF Francis Clark | Financial Advisor | Company | Supported the transaction with financial expertise. |
| Ian Austin | CEO of EGO Technology | Person | CEO of EGO Technology, expressed gratitude for the expert guidance during the acquisition. |
| Katherine Woodfine | Director of Debt Finance at Growth Lending | Person | Director at Growth Lending, praised EGO's ESG focus. |