August 15, 2022

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TECH RECYCLING FIRM ANNOUNCES EIGHT FIGURE INVESTMENT TO CREATE A £25M IT ASSET DISPOSAL MARKET LEADER

  Tier 1, the main UK round financial system expertise firm, has introduced an eight-figure...

 

Tier 1, the main UK round financial system expertise firm, has introduced an eight-figure funding in IT asset disposal enterprise EOL IT Companies Ltd.

This vital growth will virtually double Tier 1’s operational capability and create one of many largest ‘full circle’ IT {hardware} companies within the UK.

Manchester-based Tier 1 specialises in safe IT asset disposal (ITAD) and refurbishment, supporting a broad vary of shoppers and serving to to deal with the rising environmental problem of ‘e-waste’.

Based and led by CEO Jonathan Rose, the enterprise has loved fast progress in recent times, and received the Queen’s Award for Enterprise.

Essex-based EOL is a extremely accredited ITAD service and expertise recycler, with long-standing relationships with a number of Authorities departments and blue-chip shoppers.

Tier 1 Group is now one of many largest ITAD companies within the UK, with revenues in extra of £25m.

The merger provides Tier 1 a further base within the South East through EOL’s 30,000 sq. ft. facility in Maldon, Essex, to enhance its present 40,000 sq. ft. facility in Whitefield, Manchester, whereas additionally considerably enhancing its shredding and logistics functionality.

The Tier 1 Group can also be actively exploring additional acquisition alternatives that may drive vital progress and cement its place because the UK market chief.

Jonathan Rose, founder and CEO of Tier 1, mentioned: “We’re delighted to welcome Dan Smith and the EOL workforce into the Tier 1 Group.

“EOL has grown to be some of the revered ITAD corporations within the UK, and bringing the 2 companies collectively will additional improve each our senior administration workforce and our service providing, creating an unimaginable proposition for our company shoppers.

“With a mixed 70,000 sq. foot of operational facility and 115 workers, we now have the platform to construct the enterprise into the UK’s main IT round financial system organisation, with optimistic environmental influence on the coronary heart of our providing.”

EOL Managing Director Dan Smith is ready to hitch the board of the mixed Tier 1 Group, bringing with him greater than 20 years of important expertise within the ITAD trade, each domestically and internationally, to speed up the corporate’s progress.

He mentioned: “Tier 1 shares our ardour and dedication for offering companies with safe, sustainable and environmentally sound options for the recycling of IT gear.

“Having operational bases within the south and the north will present strategic logistical benefits and cut back our carbon emissions.

“Demand for sustainable computing gear is rising on a regular basis, and this transfer will present our shoppers and companies with extra entry to carbon-saving sustainable computer systems and laptops, in addition to all different method of IT gear.”

Tier 1 recovers IT property and securely wipes all information, earlier than refurbishing and re-selling gear to the B2B market through a community of trusted re-sellers.

Shoppers embody main companies, methods integrators and finish customers in training, healthcare and different areas of the Public Sector and Authorities Departments.

Tier 1 has a agency dedication to minimising the environmental influence of ‘e-waste’. Any gear that can’t be re-used is damaged down and recycled, whereas the carbon footprint of its refurbished gadgets is 75 per cent smaller than new gear

The corporate additionally has robust social values, exemplified by its award-winning IT jail recycling programme. In partnership with the charity Antz Junction, HMP Forest Financial institution and HMP Hindley, it runs a ‘By means of the Gate’ challenge that helps offenders each in jail and after launch.

‘By means of the Gate’ has already seen greater than 140 prisoners rising with {qualifications} in recycling and infrequently discovering employment and apprenticeships due to their new expertise.

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