Vyta, Ireland’s leading secure IT recycling company today announces that it will create 20 new jobs in the next two years, bringing its total workforce to 85 by 2021. The new roles will be shared across Vyta’s Dublin and Belfast locations, whose premises will also be expanded, as part of a strategic €4 million investment.
Vyta will leverage the investment to grow through targeted acquisition in both the UK and Ireland, focusing on complementary businesses and IT installation companies. UK acquisitions and investments in Vyta’s subsidiary, DiskShred, will allow the company to extend its service offering in international markets. DiskShred currently provides secure on-site hard drive and media shredding services to 13 countries throughout Europe.
The investment will also facilitate the growth of Vyta’s recently launched deployment and relocation service, which provides organisations with a secure way of managing IT refreshes and office moves. The service is forecasted to generate more than €1.15 million in revenue over the next 24 months.
The funding behind the total €4 million investment derives from an external investment of €570,000 from investor Rob Clarke, retained shareholder earnings of €1.71 million and debt finance of €1.71 million. Rob Clarke will also be appointed to Vyta’s board as chairman, providing guidance on the company’s growth journey and expansion plan.
Rob Clarke, chairman, Vyta, said: “Vyta is a great example of an Irish business success story, establishing itself during the recession and going from strength to strength since then – creating employment opportunities in both Dublin and Belfast. It’s refreshing to see a company not rest on its laurels but instead pursue ambitious growth targets with a clear expansion plan in mind. In my role as chairman, I hope to use my experience to help Vyta achieve these goals and to consolidate its position as the leading IT recycling company on the island of Ireland.”
The investment comes as Vyta marks a significant period of recent growth, having more than doubled its workforce from 25 to 60 in the last three years, and growing revenues by over 50% in the past two years to €8.1 million.
Commenting on today’s announcement, Philip McMichael, managing director, Vyta, said: “Vyta has had another stellar year in 2018 and we’re seeking to capitalise on our current growth with this strategic investment. The requirement of organisations to show compliance with GDPR legislation by securely disposing old IT equipment is fuelling demand for our services. The additional hires, expanded premises and the development of our technology and service capabilities will all support us in meeting this increasing demand.
“Acquisition is another key business strategy for us. We will remain on the lookout for other IT disposal and IT installation businesses with matching values that can easily integrate into the company, allowing us to quickly enhance our offering. Vyta is on a strong growth trajectory and we’re looking forward to welcoming new team members who’ll share our excitement for the journey ahead.”
Vyta helps organisations manage the secure retirement of their end-of-life IT, mobile and electrical equipment. Established in 2001, it has grown to be a world leader in securely managing IT retirement, as evidenced by its ranking among the top four ADISA, audited companies, and only one in Ireland. It leads based on its ability to minimise the risk of harmful data leaks from retired equipment; its exceptional customer service; and its ability to generate new revenue streams for customers post the refurbishment and resale of data sanitised devices. Its security-conscious public and private sector customers include central and local government agencies, as well as 35% of Ireland’s top 200 ICT user companies. www.vyta.com