We’re pleased to announce our latest transaction with HiTech Assets, a leading data destruction and sustainable technology asset disposition company based in Oklahoma City.
Caretta and GBT Capital, a Phoenix-based founder-focused investment firm, have formally announced today that they have acquired a majority stake in HiTech Assets LLC (“HiTech”) and established a long-term partnership with the company’s Founder Lane Epperson and existing senior management. The transaction closed on March 25, 2016 and terms of the partnership were not disclosed.
About HiTech and the ITAD Industry
HiTech is one of the largest independent Information Technology Asset Disposition (“ITAD”) companies in the United States. In recent years, corporate, state and federal requirements for secure data destruction, sustainable technology recycling and the responsible re-distribution of IT equipment have become increasingly critical and strategic for many businesses. HiTech’s industry-leading solutions deliver enterprise class data destruction and sustainable technology asset disposition services that feature 100% asset reconciliation, industry leading compliance and certifications, and responsible zero waste disposition of all technology assets. Founded in 2002 and headquartered in Oklahoma City, the Company is a trusted partner of large North American enterprises across multiple industries, including many Fortune 500 companies.
“We are delighted to have found partners in Caretta and GBT Capital who share our values and bring decades of operational experience and a unique vision to the table,” said HiTech Founder and CEO Lane Epperson who will continue to lead HiTech. “With Caretta’s and GBT’s partnership, we look forward to continuing to provide our best-in-class ITAD solutions to current clients, expanding services and markets and building a world class organization as the IT industry continues to evolve.”
Caretta’s Partnership with GBT
In this partnership, Caretta is working with long-time technology entrepreneur and Founder George Slessman of GBT Capital, who will serve on the Board of HiTech and advise on strategy. Slessman is Founder and CEO of IO, a leading provider of colocation and data center services, and brings decades of experience in building and leading disruptive, environmentally responsible technology companies to success.
“Having worked with Caretta Founder Eric Becker over the past two decades, I could not be more excited about this partnership,” said George Slessman, “The ever expanding scope and criticality of technology in our personal and business lives combined with our fundamental desire to responsibly manage data and protect the global environment, lead us to HiTech, a Founder-led company that we feel is best suited to grow in this industry and shares the same values that Eric and I cherish.”
Caretta’s anchor investment
As an anchor investment for Caretta, Founder Eric Becker believes HiTech’s unique focus on environment, compliance and cybersecurity exemplifies his firm’s unique investment model. “We set out to invest in and build companies creating long term value, that are changing the world for the better,” said Becker. “HiTech is a good example of our mission at work and we look forward to nurturing the next evolution of this exciting business.”