Urban mining company Majestic Corporation has today announced the successful completion of its acquisition of Telecycle Europe Limited as it expansion into the UK market gathers pace.
Majestic Corporation recycles various forms of e-waste, including chipboards, mobile phones and solar energy equipment.
The £2 million acquisition, initially announced in September 2024, will be settled through 13 monthly instalments of £150,000 beginning this month, with a final payment of £50,000 scheduled for June 2026.
Telecycle Europe, a profitable UK-based recycling business with an established supply network, has previously served as a tolling agent for Majestic Corporation.
The acquisition provides Majestic with access to Telecycle’s fully licensed and ISO-certified facility in Deeside, Wales, which handles electronic waste collection, sorting, processing, and shipping operations.
“I am delighted that the Acquisition has been successfully completed which marks a significant step forward for Majestic. This transaction not only enhances Majestic’s operational efficiency but also positions the Company for sustained future growth,” said Joe Lee, Director and CFO of Majestic Corporation Plc.
Majestic Corporation shares are over 15% higher since the turn of the year.