Eurazeo-backed T1A Acquires Flex IT to Form €150 Million Circular IT Platform

Circular IT solutions provide T1A announced today the acquisition of sustainable hardware solutions provider Flex IT, in a transaction described by the companies as aimed at building a leading European circular IT platform, with revenues of approximately €150 million (USD$174 million).

The transaction is backed by French investment firm Eurazeo’s impact buyout fund Eurazeo’s Planetary Boundaries Fund (EPBF), which acquired a majority stake in T1A earlier this year, alongside Dansk Vækstkapital as a value-add minority investor. EPBF acquired a majority stake in T1A in May 2026.

Denmark-based T1A collects corporate IT equipment at end of first use and performs certified data erasure and refurbishment.

Flex IT, headquartered in the Netherlands, provides solutions designed to make the use of IT hardware more sustainable by giving technology a longer life. The company distributes new and refurbished IT hardware across Europe through a network of approximately 13,000 resellers, and operates certified refurbishment capacity in Poland, alongside rental and demo services.

The combined company aims at becoming a European champion in the circular IT economy through corporate IT collection, ITAD services, certified refurbishment and pan-European distribution, according to the companies, which noted that the two businesses each business sit at opposite ends of the same value chain.

According to the companies, through the combination, a device retired by a corporate client can be collected under contract, processed at the most appropriate certified site and sold into the market and channel where it holds the most value, all within a single group.

Angelo Bul, Chief Executive of Flex IT, will be become Chief Executive of the combined company, while  Peter Hemicke, founder of T1A, becomes Executive Chairman and remains a co-investor alongside EPBF.

Bul said:

“Far too much corporate hardware is still scrapped, or left in a cupboard for three years, without anyone ever asking whether it could be used again. Together with T1A we can now take responsibility for the whole life of a client’s equipment, from the day it arrives to the day it leaves and beyond. That is what makes reuse the normal choice rather than the virtuous one.”

Hernicke added:

“What we can do now is take a device out of a company in one country and put it back to work in another, under warranty, with the chain of custody intact.”

Launched in 2024, EPBF is a thematic impact buyout fund focused on investing in businesses that contribute to reversing or adapting to the overstepping of planetary boundaries. Eurazeo has set a €750 million fund size for EPBF, and announced the first close of the fund in March 2025 at €300 million.

According to Eurazeo, the new acquisition will directly support EPBF’s ambition to scale environmental solutions in fields including circularity, waste and packaging, refurbishment and recycling, resource recovery, and the sharing and second-hand economy.