Tughans has advised Vyta, a leader in the fast-growing IT asset disposition (ITAD) market, on both its significant investment from private equity firm MML Growth Capital Ireland together with its acquisition of Essex-based IT disposal company FGD.

 

MML’s investment was funded by the MML Growth Capital Partners Ireland Fund II, a €145m fund supported by British Business Investments, AIB and a number of international institutional investors.

 

The confirmation of the acquisition of FGD is the first in Vyta’s market consolidation strategy as it aims to increase its market share organically while also acquiring like-minded IT disposal companies. The FGD acquisition complements Vyta’s existing services, with a strong focus on customer service, sustainability, and security. FGD customers will benefit from Vyta’s scale, extended range of services and security leadership in a market where growth is driven by increasingly stringent data regulations, such as GDPR, as well as sustainability concerns and obligations across all sectors.

 

 

The Tughans team was led by Corporate Partner, John McGuckian with support from Brendan Donnelly (Corporate), Douglas Anderson (Banking & Finance), Andrew Kirke, Paul Eastwood and Aoife Murray (Commercial Contracts), Patricia Rooney (Employment) and Joe Moore (Real Estate).

 

Commenting on the deal, Tughans Partner John McGuckian said:  “We have enjoyed working with Philip McMichael since his MBO of the business in 2014 and were delighted to advise Vyta on the MML investment and as they seek to consolidate the UK & EU ITAD market with the acquisition. We look forward to watching and assisting with Philip and the Vyta team’s journey.”

 

Commenting on the deal, Vyta CEO and founder, Philip McMichael said:  “At Vyta, we must adhere to the most stringent industry standards while maintaining our commitment to having the best customer service in our industry, therefore it is important that we work with like-minded partners. The Tughans’ corporate and wider team is second to none when it comes to advising businesses through investment/sale transactions. John and his team meet tight deadlines whilst translating complex legal speak into easily digestible, commercial advice.”