Growth Lending supports EGO Technology’s acquisition of Ucan Secure IT with a £3.1 million investment
Secure IT disposal specialist EGO Technology has secured a £3.1 million term loan from the growth capital provider, Growth Lending to facilitate the acquisition of Ucan Secure IT, enabling both companies to continue delivering innovative, sustainable IT disposal and recycling services.
EGO Technology, based in Burton-on-Trent, and Ucan Secure IT, based in Bradford, jointly employ around 50 people and specialise in secure data erasure, recycling and resale of redundant IT equipment. EGO also provides its clients with detailed environmental compliance reporting.
Both businesses operate a zero-waste policy and uphold strong environmental, social and governance (ESG) principles by ensuring that hardware is responsibly managed through either resale or recycling. The acquisition by EGO is an opportunity to expand the group’s combined offering in the Waste Electrical and Electronic Equipment (WEEE) sector and further support the circular economy.
The transaction was supported by HMT Corporate Finance (represented by Andrew Thomson, Ricky Lane, and Francis Drysdale), Shoosmiths (represented by Anna Robson and Jonny Adamson), and PKF Francis Clark (represented by Matt Pearce and Sophie Swift).
Ian Austin, CEO at EGO Technology, said: “Navigating the complexities of an acquisition requires expertise and dedication. We extend our sincere gratitude to the teams at both Growth Lending and HMT.
“Their invaluable guidance and support were instrumental in successfully completing the acquisition of Ucan Secure IT. This is a dynamic addition to the EGO group portfolio, and we look forward to working together to drive growth and capitalise on developing further acquisition opportunities within the dynamic WEEE waste industry.”
Katherine Woodfine, Director of Debt Finance at Growth Lending, commented: “We are pleased to support EGO Technology in this milestone acquisition. The company’s strong ESG focus, passion for sustainability, and zero-waste operations perfectly align with our commitment to backing high-growth, responsible businesses.
“We look forward to witnessing EGO Technology and Ucan Secure IT thrive together as they expand their services and uphold the highest environmental standards.”
Andrew Thomson, Managing Partner at HMT, commented: “This transaction represents an exciting new era for EGO, as the acquisition of Ucan strengthens the firm’s position in the circular economy. By joining forces, the group will now be able to provide customers with a complete secure IT disposal service line.
“We are pleased to have advised Ian and the team and look forward to working with them in the future as the business continues on its acquisitive growth journey.”
Growth Lending provides growth finance to high-growth businesses across the UK. Through solutions such as term loans, revolving credit facilities, and bespoke funding products, the company empowers clients to pursue strategic initiatives, drive acquisitions, and invest in ongoing expansion.
- For more information about EGO visit egotechnology.co.uk
- For more information about growth capital from Growth Lending, get in touch with a member of our expert team
