EcoRenew swoops for Mazuma in multi-million pound deal
EcoRenew Group, which has a base in the Lancashire coastal town of Morecambe, has acquired Mazuma Mobile, on the the UK’s largest business to customer mobile phone take-back providers, in a multi-million pound deal.
Corporate finance and tax teams at North West accountancy and advisory firm CLB Coopers, part of the Baldwins Group, helped broker the deal.
The purchase comes just a few weeks after EcoRenew’s successful acquisition of Lancaster-based data protection specialist, ICT Reverse, making the group the first true end-to-end solution from a single company within the IT and telecoms market.
Led by chief executive Mark Chambers, EcoRenew Group was founded in 2016 in Hong Kong as a mobile refurbishment specialist and has since witnessed exponential global growth, with operations now located in Morecambe, London, Dallas, Tokyo, Manila and Dubai.
Its annual turnover for 2018 is projected to be in excess of £220m, It has more than 1,000 employees and serves more than a million customers every year.
Chambers said: “We are recruiting some of the industry’s most experienced leaders and forward-thinking minds to develop unrivalled creativity, knowledge and innovation in the sector. The team has an unparalleled industry experience and we are guided by that vision, which is something very unique.”
John Lam, co-founder of Hertfordshire-headquartered Mazuma Mobile, said: “Our announcement with EcoRenew is another solid step in our journey to further cement our position as market leader in the UK handset recycler market.”
CLB Coopers’ team included senior director Rob Richardson, who headed up the transaction with the support of fellow senior director Tony Whiteway, directorRyan Wear and senior manager, Jenny Pape from the firm’s Lancaster team.
Richardson said: “We were obviously delighted to support Mark and the team throughout another successful transaction, and with more in the pipeline, this looks set to be a very exciting year for the group and its sector.
“Mark and the team have ambitious plans for the future and as well as leading the transactions, we are also working closely with them to focus on their wider strategy, to ensure the group is positioned to continue its impressive global growth.”
