Ivy Technology Acquires ISP Tek, Forging an IT Lifecycle Powerhouse

PLANO, Texas – May 26, 2026 – Ivy Technology, a global provider of technology lifecycle services, has announced its strategic acquisition of ISP Tek Services LLC, a specialist in IT asset disposition (ITAD). The move, backed by private equity firm Staple Street Capital, significantly enhances Ivy’s service portfolio, integrates advanced refurbishment capabilities, and extends its operational reach into Mexico.

The acquisition positions Ivy to offer a comprehensive, end-to-end solution for technology hardware, from deployment and management to secure end-of-life processing. ISP Tek Services was acquired from Close the Loop (ASX: CLG), which divested the unit as part of a major strategic reset.

A Strategic Play in a Booming Market

This acquisition comes as the IT Asset Disposition market is experiencing explosive growth. Driven by heightened data security concerns, shorter technology refresh cycles, and a corporate push toward sustainability, the global ITAD market is projected to swell from over $17 billion in 2025 to potentially exceed $40 billion by 2035. Companies are no longer just discarding old hardware; they are seeking secure, compliant, and environmentally responsible ways to manage a growing mountain of e-waste.

Ivy Technology's purchase of ISP Tek is a direct response to this market demand. By integrating ISP Tek’s expertise in high-volume processing, testing, and refurbishment of devices like laptops and printers, Ivy can now offer a more robust “full-stack” asset lifecycle management service. This vertical integration is designed to capture more value across the entire technology lifecycle.

Scott Greer, CEO of Ivy, emphasized this synergy, stating, "The acquisition of ISP Tek Services enhances Ivy's service offering and strengthens our position in the IT asset lifecycle market. The combination of capabilities supports a more connected, end-to-end approach, delivering increased value for our customers, partners, and stakeholders."

The move is also a reflection of the strategy guided by its parent company, Staple Street Capital. The private equity firm’s partners noted, “We believe that the strategic acquisition of ISP Tek combines Ivy's global platform with ISP Tek's established asset disposition and certified refurbishment capabilities, enabling Ivy to better serve its customers across the full technology lifecycle while accelerating ISP Tek's growth trajectory.”

Powering the Circular Economy

Beyond the business strategy, the acquisition carries significant weight in the context of corporate sustainability. As enterprises face increasing pressure to meet Environmental, Social, and Governance (ESG) goals, the demand for circular economy solutions has skyrocketed. The ITAD industry is at the forefront of this movement, turning potential e-waste into valuable, reusable assets.

Ivy Technology has already established strong environmental credentials, achieving an EcoVadis Gold Rating in 2023 and making all its global operations landfill-free in 2024. The company reported avoiding over 400 metric tons of CO2 emissions last year through its circular repair services alone. The addition of ISP Tek, a former HP Remarketing Partner with deep experience in certified refurbishment, directly bolsters these efforts.

By extending the life of technology through secure refurbishment and resale, the combined entity helps clients reduce their carbon footprint, minimize resource consumption, and prevent sensitive materials from ending up in landfills. This alignment with sustainability is not just an ethical choice but a powerful competitive advantage in a market where customers are increasingly selecting partners based on their environmental commitment.

Global Ambitions and Mexican Expansion

A key feature of the deal is the expansion of Ivy Technology’s operational footprint into Mexico. This move provides Ivy with a crucial foothold in Latin America, allowing it to offer consistent, high-quality ITAD services to multinational corporations that require a unified approach across their global operations.

The entry into Mexico addresses a growing need for sophisticated lifecycle services in emerging markets, which are undergoing rapid digital transformation. For ISP Tek, the acquisition represents a significant opportunity for growth.

Matthew Zimmer, CEO of ISP Tek Services, commented on the new possibilities, stating, "Joining Ivy Technology marks an exciting next step for our business, expanding our service offerings and global reach while creating immediate value for our customers and OEM partners. Together with Ivy Technology, our team is well-positioned to continue building a best-in-class ITAD and refurbishment portfolio worldwide."

A Calculated Divestment

The story behind the acquisition also involves a significant strategic shift for the seller, Close the Loop (CLG). The Australian-listed company sold ISP Tek for US$10 million as part of a broader financial restructuring. The proceeds are being used to help repay approximately US$16 million in debt, allowing CLG to shed non-core assets and refocus on its primary packaging and resource recovery divisions.

CLG's management noted that its 2023 acquisition of ISP Tek “did not work as expected,” highlighting the operational complexities and intense competition within the ITAD sector. This context underscores the strategic conviction of Ivy Technology and Staple Street Capital, who are doubling down on the very market that another player is exiting. By leveraging Ivy's existing global infrastructure and scale, the new owners are betting they can unlock the potential that CLG could not.

With this acquisition, Ivy Technology is not just buying a company; it is buying deeper capabilities, a new market presence, and a stronger narrative in the critical and expanding field of sustainable technology management.