Equity firm acquires majority stake in Sprout

Published: January 9, 2025
Updated: January 9, 2025
by Colin Staub

IT asset disposition company Sprout has received a majority investment from a New York City-based private equity firm, which predicts rising demand for ITAD services in the years to come.

Sprout and the equity firm, Recognize, today announced the deal, which closed in late December. They noted that current Sprout investor New Capital Partners, which has owned a stake in the company since 2019, will continue on as a minority investor. Financial terms of the deal weren’t disclosed.

“Ultimately, this partnership with Recognized is going to enable Sprout to scale our impact on sustainability and secure data management,” Tom Allison, president of Sprout, said in an interview. “This partnership is helping us respond to the growing global demand for what I call sophisticated ITAD solutions.”