Monday 12 October 2020

RDJ advises Wisetek on €8 million financing

Ronan Daly Jermyn (RDJ) advised Wisetek on its recent €8 million financing by HSBC, as part of the fast-growing recycler of IT equipment’s next phase of growth.

Wisetek is a global leader in IT asset disposal (ITAD), technology reuse and manufacturing services. Headquartered in Cork, with processing facilities throughout the USA, EMEA and APAC, the company offers a true circular economy model approach, promoting reuse of IT equipment as a priority for its customers in order to maximise environmental and sustainability outcomes.  During the Covid19 pandemic, Wisetek repurposed one of its production lines for the assembly of life-saving ventilators for hospitals in Cork, Dublin and Limerick, with the result that it was capable of assembling 50+ ventilators a day from components sourced with firms that supported the initiative.

RDJ Banking and Finance Partner, Cian Fenton advised on the transaction supported by Aisling O'Donovan.

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