Channel outfit Buy IT has bought the refurbishing company Trojan Electronics.
It acquired Trojan in a pre-pack deal after the organisation entered administration in November, with Glynne saying that all members of staff have been kept on and around £3 million of debt has been paid.
Buy IT said that a large chunk of its business come from refurbishing and selling products that suppliers have had returned to them by customers.
These products are then sold – often via eBay and Amazon – with Trojan taking a commission a cut, which is handed to the client. It has Tesco and Hive among its customers.
Managing director Nick Glynne said his company had a fantastic relationship with eBay and Amazon, and has good contacts in the Middle East.
“Some manufacturers will just want some cash to get rid of the items, but some will want to manage things a bit more carefully and make sure that the items don’t end up on the market at a distressed price, disrupting the normal channel. We can provide a safe way of managing that by keeping the prices right and managing it overseas”, Glynne said.
“Because it is such a large business – one of the top 20 UK sellers on eBay and Amazon – we get really good commercial terms and significantly lower rates than everyday sellers do, so we can pass that on to clients and give them an offering they couldn’t have themselves.”
He added that, with its financial difficulties behind it, Trojan has already made steps towards securing a host of new clients.
The MD said that Trojan gives the wider Buy IT business a different source of revenue.
