ReBound Returns, the tech platform helping the likes of Asos, Gymshark and Sweaty Betty manage returns sustainably, has been acquired by Reconomy, the UK’s leading provider of outsourced, asset-light services to the circular economy.
The Founders Graham Best and Phil Smith teamed up in 2014 to build software that would handle returns and logistics for retailers and give consumers a smoother experience. BGF invested in 2018 to assist the management team with their growth plans for the business.
Reconomy acquired ReBound as it fits neatly with its strategic growth plans in helping the retail sector with its sustainability efforts, which has become a greater issue with the surge of on-line shopping during the Covid-19 pandemic.
Ses Memhi, Associated Partner at Claritas who led the team said:
“We were introduced to the Phil, Graham and the management team back in 2018 when BGF made their investment. We have seen the group go from strength to strength and the pandemic has highlighted the value of the technology and processes developed by ReBound, where retailers have become overwhelmed with the substantial increase in on-line shopping. We are absolutely delighted to see the team’s vision become reality and that we were able to help achieve their plans. It’s a great story and we wish them every success in the new post Covid-19 environment.”
Graham Best, CEO of ReBound commented:
“Claritas have been with us since the investment made by BGF which was instrumental in kick starting our vision for the business and the management team. They have always provided invaluable and practical advice which has neatly dovetailed with our plan. Throughout the transaction with BGF and the acquisition by Reconomy, Ses and the team have exemplified a clear ability in understanding the key issues and providing workable solutions to complex issues. They also provided the team with a lot of support during critical times and we thank them for helping us achieve our ambitions. We regard Claritas as a key trusted advisor and look forward to working with them again.”
Ses Memhi was supported by Iain Wright, Adam Keates and Amanda Allen.
