IT recycling firm set for growth thanks to six-figure funding from Unity Trust Bank
An entrepreneur who set up a successful IT recycling company when he was just 18 is expanding his business thanks to six-figure funding from Unity Trust Bank.
Oliver Bedford established Revive IT in Buslingthorpe Green, Leeds in 2009 and is using the £900,000 refinance package to buy two new warehouses.
It means the company, which provides secure computer recycling and data destruction services and employs 33 people, will be able to double the amount of equipment it processes and create 20 new jobs.
Oliver said: “I can’t rate my experience with Unity Trust Bank, and my relationship manager Michael Wicks, highly enough, it was phenomenal.
“The transaction was faster and smoother because Michael has experience of deals like this. The whole customer experience is what makes this bank so special.”
Oliver discovered a flair for businesses when he was 13, buying sweets in multi-packs and selling them to schoolfriends for a profit.
He progressed into the mobile phone market when he left school before moving on to IT equipment and buying his first warehouse.
Oliver said: “I’ve always had a strong interest in buying and selling stuff – call it the Alan Sugar effect.
“The IT recycling market is huge. Businesses upgrade every few years and need to dispose of old equipment, but most importantly they need to ensure all their confidential data stored on the equipment is securely destroyed. Another important consideration is making sure the equipment is recycled in an environmentally friendly way.”
Revive IT, which operates around the country and offers a free collection service, destroys hard drives and data-bearing devices using industry-leading machinery.
Devices that have been sanitised will be reused, while those that are faulty or obsolete are destroyed and broken down for recycling.
The company has a zero waste to landfill policy and predominantly sells its goods on online market platforms.
Oliver puts his company’s success down to his staff and excellent customer service.
He said: “A lot of firms get so big they lose that personal touch and, like my experience with Michael and Unity, exceptional customer service is what makes a business unique.
“We recruit in a sustainable way, making sure we employ the right people and provide proper training and support. We invest in people for the long run and we have extremely low staff turnover.
“Making sure your staff are happy is the key to keeping your customers happy.”
Michael Wicks, relationship manager at Unity Trust Bank, said: “Oliver has built up a hugely successful business and we’re delighted to support his expansion.
“Recycling has a number of positive benefits, including helping to reduce our carbon footprint. However, as well as helping the environment, Oliver is also helping the local economy through job creation and training.”