12 Aug TES Acquires the Assets of Redeem UK Ltd, Including the Envirofone Brand
Press release: 12-August-2020 Back to overview
TES has come to a definitive agreement with the administrators of Redeem UK Limited (‘REDEEM UK’) to acquire the assets of Redeem UK, including the Envirofone brand
The acquisition includes the Envirofone brand name, trade-in consumer websites, recycling program, and backend systems.
Originally established in 1999, Envirofone has become one of the UK’s leading and longest-serving online trade-in brands, having traded almost 50,000 units and paid over £9 million back to customers in the previous 12 months (April 2019–April 2020).
The acquisition by TES, the global leader in information technology lifecycle services, will enhance TES’s offer in the mobile retail space for consumer takebacks and e-commerce sales, currently operated under the TechSI (TSI) and Stock Must Go (SMG) brand names.
Gary Steele, Group CEO at TES, commented:
“The change in consumer habits over the past few decades continues to accelerate and evolve, emphasizing the value of trusted online brands. Envirofone is undoubtedly one of those brands, providing the platform and impetus that will fuel step-change growth for TES.”
The acquisition further solidifies TES’s position as the leading global provider of IT lifecycle services and its dedication to closing the loop on e-waste throughout the IT asset value lifecycle. TES will re-establish the Envirofone brand and backend operations to support the millions of consumers who choose to trade in mobility products and further expand the portfolio to include computing, gaming, and consumer electronics products.
John Paul Doble, Director of Technology Supplies International Ltd, added:
“Envirofone has a long-established history of being a premier brand that, coupled with TES’s infrastructure, will position TES to become a major player in the mobile retail space overnight for consumer take-backs and e-commerce sales in the United Kingdom.
By aligning Envirofone with our existing retail returns and trade-in business, TechSI, TES will be able to offer a wider range of consumer electronics products, including mobile phones, laptops, pads, and gaming products, in a single online platform, enhancing the customer experience and supporting TES’s core sustainability strategy.”
This latest acquisition highlights TES’s ambition to solidify its value chain for its clients all the way through the IT lifecycle.
Since its formation in 2005, TES has been a global leader in providing information technology (IT) lifecycle services, offering bespoke solutions that help customers manage the commissioning, deployment and retirement of IT assets. Understanding the common challenges in managing IT equipment throughout its lifecycle allows TES to provide cost-effective solutions whilst achieving compliance with all local and international data security, environmental and industry regulations.