Foxway has acquired Teqcycle Solutions GmbH to strengthen its position in the circular technology market in Germany and enhance sustainable service offerings.

Target Company Information

Foxway has successfully acquired Teqcycle Solutions GmbH, a prominent mobile trade-in company located in Germany. This acquisition marks a strategic advancement in Foxway's mission to establish itself as the leading enterprise in circular technology across Europe and beyond. Teqcycle specializes in procuring used devices from various sources and optimizing their resale potential through innovative logistics.

In the fiscal year 2022, Teqcycle reported an annual turnover of €29 million and employs around 50 individuals. The company's headquarters is situated in Munich, enhancing Foxway's geographical presence in Germany and the wider DACH region, which comprises Germany, Austria, and Switzerland.

Industry Overview in Germany

The mobile trade-in industry has been witnessing significant transformations, particularly in Germany, where there is an increasing consumer demand for refurbished and “almost new” devices. This surge in demand is partly drive