Morecambe-based ICT Reverse Asset Management expands with £250k HSBC funding

IT data protection company ICT Reverse Asset Management has created new jobs with a six-figure funding package from HSBC.

The Lancashire-based firm, which offers the management and retirement of redundant ICT equipment, took on seven new members of staff and plans to use the £250k to expand its range of services.

To accommodate its larger workforce, the company invested in its infrastructure by upgrading on-site security, office environment and internal communications systems.

ICT Reverse Asset Management also acquired a new data shredding machine to reduce process times and improve data destruction.

The firm, which operates from a 75,000 sq ft facility in Morecambe, has forecast its turnover to rise by £1.2m in the next 12 months.

Craig Smith, the managing director of ICT Reverse Asset Management, said: “After enjoying robust growth over the past 10 years we identified that the next challenge was ensuring we had capacity to fulfil new contracts.

“With assistance from HSBC we now have a greater capacity and can provide new services to our customers.”

HSBC’s area director for Lancashire, Brian Heyes, commented: “ICT Reverse Asset Management is a fine example of a Lancashire-based business at the forefront of its industry.

“The business had a clear strategy to win contracts, create new jobs and expand its customer offering. We look forward to seeing the business continue to thrive.”