Birketts advises on the sale of Essex-based FGD Solutions Ltd
11 July 2022
Birketts has advised on the sale of FGD Solutions Ltd to Asset Management (Ireland) Holdings Limited.
FGD Solutions Ltd, based in Chelmsford, Essex, is one of the market leaders in the field of secure IT recycling. Established in 2011, FGD Solutions has worked with a range of clients in a variety of different sectors, including legal, banking and public, successfully providing services in IT disposal, data destruction and sanitisation, and IT asset buyback.
FGD Solutions had already enjoyed a working relationship with Vyta Secure Ltd, a secure IT recycling company based in Northern Ireland, which is wholly owned by Asset Management (Ireland) Holdings Limited. FGD Solutions will now form part of the “Vyta Group”, further strengthening Vyta Group’s market position in the UK, Ireland and Northern Ireland. This is following significant investment from private equity firm MML Growth Capital Partners Ireland in the Vyta Group. As part of its overall growth strategy, other members of the Vyta Group, members of its senior management team and two of the co-founders of FGD Solutions have also made significant investments.
The Birketts team was led by Partner Rafael Ruiz (Corporate) and Associate Sabina Rooney (Corporate), who were assisted by lawyers from a number of disciplines across the firm, including Partners Adam Jones (Private Equity), Clare Barlow (Employment) and Karl Pocock (Tax), Senior Associate Matthew Grindley (Property) and Associate Robbie Watson (Tax).
Leigh Medhurst, one of the co-founders of FGD Solutions Ltd and current Chief Development Officer, said: “It was a pleasure to work with Birketts. The sale was complex, and at times quite overwhelming, but Sabina and Rafael were always on hand to support us. The entire Birketts team undoubtedly went above and beyond to get the acquisition over the line”.
Sabina Rooney of Birketts commented: “Birketts is proud to have concluded another transaction involving a leading Essex based business. Our lawyers have the experience and expertise to deal with corporate transactions such as this on a daily basis, providing a responsive and thorough service that is pragmatic in approach and tailored to each client’s specific needs. It was a pleasure to deal with the FGD team and assist such a well-established business in the IT recycling industry. I have no doubt that Vyta Group has a bright future and will only continue to grow in success with the efforts of the FGD team.”