Nordic Capital is acquiring Foxway, a European provider of circular IT services. Foxway, founded in 2009, focuses on improving sustainability of IT devices.
It helps customers reduce their tech footprint by recovering and remarketing IT devices, providing the infrastructure necessary to ensure a sustainable lifecycle. It refurbishes over 1.5m devices annually.
It is headquartered in Sweden, with offices across Europe, and a presence in Asia and the US, and has completed acquisitions in Spain, Sweden, Estonia, Norway, Denmark, Germany and the UK. It employs 1,000 across eight countries.
Joakim Andreasson, managing director of Nordic Capital Advisors, said: "We are impressed with the development of Foxway, becoming a leader in its sector with significant opportunities. Nordic Capital has deep experience in the circularity space from similar current investments, and will look to leverage its sector knowledge and operational experience to help realise Foxway's full potential as a truly global circular IT lifecycle management company.
“With a focus on M&A, expansion, and further investments in operational excellence, Foxway will be in a strong position to help accelerate an industry-wide sustainable transformation."
The value of the acquisition has not been disclosed.
