Beanstalk Management, the leading corporate finance advisor, has successfully assisted with the management buy-in (MBI) of Redeem Ltd. Beanstalk has drawn on its unique expertise to complete commercial due diligence work on behalf of the new management team and their investors. The MBI team is led by Curt Hopkins and Pete Petrondas who have invested in the deal with backing from private equity investor Trevor Bayley, one of the founding partners of HgCapital, who will be non-executive Chairman.
Redeem is an international leader in the recovery and recycling of used mobile phones, print cartridges and other electronic devices. Operating in Europe and Asia, Redeem has experienced 100 per cent growth this year, with turnover now in excess of £20 million per annum. Scottish based Redeem, which will retain its headquarters in Falkirk , was originally established in 1999 and currently works with some of the UK’s and Ireland’s largest brands, including network operator O2 and retailers Boots and Sainsbury’s, to offer innovative customer recycling programmes. With ambitious plans to grow the business, the new management team will focus on existing markets, including network operators and mobile retailers in the UK and Europe.
Curt Hopkins, incoming CEO of Redeem, said: "Beanstalk Management’s pragmatic and focussed approach to their commercial due diligence has provided me and my new team at Redeem with some actionable insights to support our growth plan - a source of value for us, post the investment.”
Trevor Bayley, investor and incoming Chairman of Redeem, said: “Beanstalk Management performed commercial due diligence on our behalf during our investment in the MBI of Redeem. Beanstalk’s sector knowledge and commercial experience meant they quickly understood the key issues that we needed their due diligence to address. Beanstalk’s work provided us with the comfort and key insights to progress with the investment. I have no hesitation in recommending Beanstalk to anyone looking for a tenacious, competent and professional corporate finance boutique for commercial due diligence work.”
Richard Baker from Beanstalk Management commented: “We are delighted to have added value to the acquisition process and we are delighted that the management buy-in has succeeded. We wish Curt, Pete and their team the very best as they continue to build the business”.
For further details contact:
Richard Baker, Beanstalk Management
Telephone: +44 207 193 3699
Beanstalk Management is an innovative corporate advisory house specialising in the cleantech, consumer and high tech sectors. Founded in 2005, Beanstalk are industry experts in buying and selling businesses, raising finance and strategy consulting.