“MML not only share our growth ambitions but also our sustainability ethos and dedication to growing the circular economy. The funding, along with their knowledge and experience, will be vital to us as we embark on our strategy to consolidate the UK and Europe’s ITAD market.”

Philip McMichael, Founder and CEO, Vyta

Vyta

vyta.com
Investment provided to support CEO and management team pursue organic and acquisition growth strategy.

The business

Vyta is a leading provider of IT asset disposal services, helping organisations manage the retirement of its IT equipment in a secure and environmentally friendly manner.

The deal

Vyta, led by Founder and CEO, Philip McMichael, is a highly accredited ITAD provider in Ireland and the UK, with strong top line growth and positive market dynamics underpinned by increasingly stringent data regulations and growing sustainability awareness.

Vyta was looking for a partner to help accelerate its acquisition growth strategy with plans to expand its presence and services in Ireland, the UK and elsewhere in Europe. MML Ireland invested £11m helping support Vyta acquire Essex-based IT disposal company FGD. MML Ireland invested alongside Philip, existing shareholders, the Vyta management team and the FGD founders, all of whom reinvested materially, giving MML Ireland a minority stake in the business. Following the FGD acquisition, Vyta Group is now one of the largest IT asset disposal companies in Ireland and the UK.

MML Ireland’s investment created a significant equity incentive pot for the management team and helped ensure the appropriate capital structure and funding for further acquisitive expansion.

Fund
MML Ireland Fund II
Region
Northern Ireland
Deal Status
Current
Sector
IT Asset Disposal

Related news

MML Ireland invests in leading IT recycling company Vyta Group and supports acquisition of IT disposal company FGD
MML Ireland is investing c. £11m in Vyta alongside CEO Philip McMichael, existing shareholders and new shareholders, giving it a minority shareholding in the Group. The existing and new shareholders – consisting of four members of the Vyta senior management team and the FGD founders – have made significant investments, in support of the company’s growth-oriented acquisition strategy across the UK and continental Europe.

Associated deal team

Neil McGowan

Partner and Co-Head of Investments

Christopher Walsh

Investment Director

Shane Cooke

Investment Director

Muireann MacAuliffe

Investment Associate

MML investor portal logins

For investors in MML Ireland Fund I, MML Ireland Fund II & MML Fund VI

For investors in MML Fund VII