Technology services provider Foxway has acquired Global Resale Ltd, which provides lifecycle management solutions for technology assets in the UK and Europe. Financial terms of the deal were not disclosed.
This is technology M&A deal number 1,030 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Foxway Acquires Global Resale Ltd
Foxway, founded in 2009, has operations in at least 11 countries, including the United States. The company has 257 employees listed on LinkedIn. Foxway’s areas of expertise involve different services that help their customers to manage mobile phones, computers, and other tech devices in a way that is both cost-efficient and sustainable, according to the company.
Global Resale, founded in 2015, is based in Braintree, Essex, England. The company has 130 employees listed on LinkedIn. Global Resale’s areas of expertise include remarketing, data destruction, reverse logistics, mobility, enterprise computing, ITAD, IT asset disposition, data center, IT recycling, mobility computing, data wiping, IT projects, environmental recycling, asset refurbishment, Microsoft Authorised Refurbisher, MAR, computing sales, specialist IT equipment, server equipment, circular economy, desktop computing, project management, strategic partnerships, international IT asset collections, online retailing, computer parts, IT sourcing, lease return management, future residual valuation, service management and global ITAD.
The acquisition is part of Foxway’s overall growth strategy as it seeks to become a leader within the “circular IT” sphere, according to the company. The company has already made a handful of acquisitions in pursuit of this goal. This deal will strengthen the group’s business of recovery and remarketing of computers as well as data center hardware, the company said.
What Is “Circular IT”?
So-called “circular IT” is based around the provision of device-as-a-service, recovery services and remarketing services supported by advisory and insights through data. This allows customers and partners to make use of the increased value created in the different stages of the full lifecycle, according to Foxway.
The Global Resale deal strengthen’s Foxway’s position in the UK and Europe, while also strengthening the company’s portfolio through different asset types like computers and data center hardware, Foxway said.
Foxway Acquires Global Resale: Leadership Insight
Martin Backman, CEO, Foxway, commented:
“We are pleased to welcome Global Resale to Foxway. This is a strategic acquisition to strengthen our position within circular tech in Europe. Our mission is to enable sustainable tech to the market, by providing circular IT services that extend the hardware’s lifetime and reduce its climate impact. With the Global Resale’s team of experts within circular tech, we will join our forces to change the tech industry to be and act more sustainable.”
Peter Jefford, director of enterprise, Global Resale, said:
“We are looking forward to being a part of Foxway’s journey ahead. Global Resale has strong partnerships and a global reach, which means that we can add value to the group and its customers on a global market.”
Chris Farrell, general manager, Global Resale, added:
“I am proud of our team and the rapid growth we have achieved in the last years. We have a great opportunity to scale our business together with Foxway, and to be the customers’ first choice for circular tech services.”
Howard Kennedy and Hansen Law acted as legal advisors to Foxway. The financial due diligence was performed by PwC. The sellers were represented by Houlihan Lokey as financial M&A advisor and as well as K&L Gates as legal advisors.
