A LEADING technology company has made an eight-figure investment in a Maldon-based IT firm.

Dan Smith, managing director of IT asset disposal company EOL, has more than 20 years of experience in the industry.

His firm, based in a 30,000 sq ft facility in Maldon, boasts long-standing relationships with several government departments.

Now it is set to expand significantly after the investment from Tier 1, one of the largest IT asset disposal businesses in the UK with revenues in excess of £25million.

Mr Smith is set to join the board of the combined Tier 1 Group as part of the merger, which has created the country’s largest IT refurbishment, recycling and asset disposal business.

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He said: “Tier 1 shares our passion and commitment for providing businesses with secure, sustainable and environmentally sound solutions for the recycling of IT equipment.

“Having operational bases in the south and the north will provide strategic logistical advantages and reduce our carbon emissions.

“Demand for sustainable computing equipment is increasing all the time, and this move will provide our clients and businesses with more access to carbon-saving sustainable computers and laptops, as well as all other manner of IT equipment.”

Tier 1 recovers IT assets and securely wipes all data, before refurbishing and re-selling equipment to the business-to-business market through a network of trusted re-sellers.

Jonathan Rose, founder and CEO of Tier 1, said: “We are delighted to welcome Dan Smith and the EOL team into the Tier 1 Group.

“EOL has grown to be one of the most respected ITAD companies in the UK, and bringing the two businesses together will further enhance both our senior management team and our service offering, creating an incredible proposition for our corporate clients.

“With a combined 70,000 square foot of operational facility and 115 employees, we now have the platform to build the business into the UK’s leading IT circular economy organisation, with positive environmental impact at the heart of our offering.”