Merger and acquisition (M&A) activity in the IT asset disposition (ITAD) market remains steady to strong. Skeptical? Our regularly updated list of ITAD deal flow (further below) tracks all of the buyers, sellers and private equity investors in the market.
First, some background: Businesses, government agencies, schools and associations worldwide are seeking to reduce their e-waste, which means they want to safely dispose of used smartphones, notebooks, PCs, servers, networks, peripherals, and data center infrastructure.
Demand for associated ITAD services appears strong. Indeed, annual spending on ITAD is expected to reach $34 billion by 2030, up from $16.8 billion in 2022, according to Research and Markets. That's a 9.2% compound annual growth rate (CAGR), the researcher said.
Seeking to capitalize on that growth opportunity, ITAD businesses and investors -- ranging from venture capitalists (VCs) to private equity firms -- have been funding and/or acquiring ITAD-related companies.
M&A List: ITAD Company Buyers, Sellers and Investors
Here's a regularly updated M&A list tracking ITAD business buyers, sellers and private equity investors. Check back often to see the latest deal flow.
19. April 2025: CTL, a major Google Chromebook manufacturer, has acquired 3R Technology, an ITAD service provider to schools and enterprise customers. CTL is backed by private equity firm Columbia River Partners. Among the factoids to note:
- CTL, based near Portland, Oregon, has roughly 238 employees listed on LinkedIn as of April 2025.
- 3R, based in Kent, Washington, has 34 employees listed on LinkedIn.
- Financial terms of the deal were not disclosed.
18. April 2025: Ancor Capital Partners has acquired CEAR, a provider of electronics recycling and ITAD services headquartered in Mather, California. Financial terms of the deal were not disclosed.
17. March 2025: EGO Technology has acquired Ucan Secure IT. The deal reinforces EGO's focus on sustainable ITAD and rare earth metal recovery services for United Kingdom customers. Growth Lending Group financed the deal. Financial terms were not disclosed.
16. February 2025: Sage Sustainable Electronics, backed by private equity firm Closed Loop Partners, acquired Cascade Asset Management.
15. February 2025: 3StepIT has acquired LeaseCloud, which develops an IT equipment subscription platform for SMB customers. LeaseCloud's platform integrates with hardware distributors and vendors’ portals, providing SMBs with access to leasing as a payment method for B2B e-commerce, 3StepIT said. The service is rolling out in Sweden, Denmark, Finland and Norway. Financial terms of the acquisitions were not disclosed. 3stepIT, a provider of IT asset disposition (ITAD) and circular technology services, also is expanding from Europe to North America, and sharpening its AI data center focus. Key partners include BNP Paribas, a French bank and financial services firm.
14. February 2025: Service Express has acquired Top Gun Technology, a data center maintenance and ITAD service provider in Minneapolis, Minnesota. Financial terms of the deal were not disclosed.
13. January 2025: Private equity firm Recognize has acquired a majority stake in Sprout, an ITAD service provider. New Capital Partners remains a minority investor in the ITAD business. Recognize Co-founder and Managing Partner Charles Phillips is well-known across the financial services and software sector. He previously was CEO of Infor, president of Oracle, and managing director at Morgan Stanley.
12. December 2024: Quantum Lifecycle Partners has acquired DCR Systems Group Inc., an IT service provider in Richmond Hill, Ontario. The deal further expands Quantum's expertise in such areas as ITAD, recycling and e-waste reduction. This is Quantum's second acquisition of 2024. The first, deal number 7 listed below, involved Paragon Bay Group.
11. October 2024: Sage Sustainable Electronics, backed by private equity firm Closed Loop Partners, has acquired Relectro, a provider of electronics repair, refurbishment, logistics, and device lifecycle managemen services.
10. September 2024: Iron Mountain has acquired Wisetek, an ITAD company in Cork, Ireland, the Irish Examiner reported. Financial terms of the deal were not disclosed. Iron Mountain has been an active ITAD business buyer. Earlier acquisitions include Regency Technologies and ITRenew.
9. August 2024: Full Circle Electronics, backed by investment firm Tide Rock, acquired ITAD specialist Global Electronics Recycling (GER).
8. July 2024: S3 Recycling Solutions acquired iGlobal Asset Management, which specializes in IT asset disposition (ITAD) and medical asset disposition.
7. January 2024: ITAD and recycling specialist Quantum Lifecycle Partners acquired Paragon Bay Group -- which specializes in product fulfillment, testing, in-warranty repair, asset recovery, and forward and reverse logistics services. Financial terms of the deal were not disclosed.
6. January 2024: Shyft Global Services, a division of IT distribution giant TD SYNNEX, acquired Cokeva -- a provider of IT repair, test and refurbishment services. The deal potentially strengthens TD Synnex's overall portfolio of sustainable IT services.
5. November 2023: Private equity and circular economy investment firm Closed Loop Partners acquired a majority stake in Sage Sustainable Electronics for IT asset disposition (ITAD) services.
4. October 2023: Full Circle Electronics (FCE), backed by private equity firm Tide Rock, acquired an IT Asset Disposition (ITAD) business from SIPI Asset Recovery.
3. June 2023: Elemental Holding Group acquired Colt Recycling, an e-waste recycler and IT asset disposition company. Financial terms of the deal were not disclosed.
2. January 2023: Iron Mountain completed the previously announced Regency Technologies acquisition. The deal was valued at $200 million or 7.5 times annual EBITDA (earnings before interest, taxes, depreciation and amortization). Still, the overall purchase price and valuation may increase if Regency achieves certain earn-out goals, which are potentially payable in 2027.
1. January 2023: Apkudo acquired Mobile reCell, which develops a software-driven platform for IT asset management (ITAM) and recovery. The deal potentially accelerates Apkudo's circular economy strategy for IT device reuse, recovery and e-waste reduction.
Did we fail to list a particular M&A deal involving ITAD? If so, please email me the details: Joe@MentoreVentures.com. Thanks for your readership and ongoing help tracking the market.
