Eurazeo Buys Flex IT from Altor, Forms Circular IT Giant

Eurazeo has finalized its acquisition of Flex IT, a prominent European player in the circular IT sector. The deal sees Flex IT integrated with Eurazeo's existing portfolio company, T1A Group, creating a significant combined entity in the IT lifecycle management space. This strategic move by Eurazeo underscores the growing investor appetite for sustainable business models within the technology sector.

Flex IT, founded in 1991 and headquartered in the Netherlands, has established itself as a leader in providing IT solutions centered on circular economy principles. The company's comprehensive service offering spans distribution, rental, buy-back programs, refurbishment, and IT asset disposition (ITAD). Serving approximately 13,000 clients across diverse sectors including retail, SMEs, corporations, and public organizations, Flex IT operates from eight European countries and extends its reach to over 35 nations globally. Its operational hubs in Leiden, Netherlands, and Toruń, Poland, are key to its refurbishment and ITAD capabilities.

The transaction marks the culmination of Altor's investment in the business, which originated as Infotheek. Altor, a private equity firm with over EUR 12 billion in commitments, has successfully navigated the value creation journey for Flex IT. Partner at Altor, Jens Browaldh, expressed admiration for the management team's achievements, highlighting Flex IT's development into a leading circular IT specialist with a robust, flexible approach to the entire IT lifecycle. Altor previously divested Centralpoint in 2021, signaling a strategic exit from its holdings in the IT services domain.

The newly formed platform, combining Flex IT and T1A Group, is projected to generate revenues of approximately €150 million. Angelo Bul, the current CEO of Flex IT, will assume leadership of the combined group, steering its next phase of expansion. Bul emphasized the enhanced capability to manage the complete lifecycle of client equipment, a crucial offering in an era of increasing IT complexity and sustainability demands. This integration is expected to unlock significant synergies and market opportunities.

The circular IT market is experiencing robust growth, driven by corporate sustainability initiatives, regulatory pressures, and the economic benefits of extending hardware lifecycles. Industry reports indicate a compound annual growth rate (CAGR) exceeding 15% for the ITAD and refurbishment market in Europe. Flex IT's €120 million revenue in 2025 positions it strongly within this expanding segment. The combination with T1A Group under Eurazeo's stewardship is anticipated to further solidify its market position and accelerate innovation in sustainable IT management.

This acquisition by Eurazeo aligns with its strategy of investing in companies with strong ESG credentials and significant growth potential. The firm's backing is expected to provide Flex IT and T1A Group with the resources and strategic guidance necessary to capitalize on market trends, including the increasing demand for IT rental services and secure data destruction. The deal represents a significant step for Eurazeo in building a comprehensive European platform for circular IT solutions.