Published 5 years ago.
About a 3 minute read.
Image: PC Lifecycle Management
European leaders in financing professional equipment and IT life cycle management join forces to offer circular, product-as-a-service solutions.
Back in 2015, Trucost research found a $10 billion business
for advancing circular best practices throughout the electronics sector. Now,
BNP Paribas Leasing Solutions, a
European leader in financing professional equipment, and technology life cycle
management specialist 3 Step IT are taking that idea
forward — the companies have formed a European strategic alliance that will
provide complete, sustainable technology lifecycle-management solutions
internationally. The service offering aims to meet organisations’ demands for
more flexible and circular, product-as-a-service
The alliance will be effective in the 20* European countries where each of the
partners operates, as part of a partnership developed under the name BNP
Paribas 3 Step IT. Within the partnership, a joint venture operation will
trade in 11 countries, starting in France, Italy, Germany,
Belgium, the Netherlands and the United Kingdom; in 2020, the new
company plans to extend its services to Poland, Spain, Portugal,
Austria and Switzerland.
BNP Paribas Leasing Solutions has been active for more than 20 years in the
rental and lifecycle management market. To date, its technology equipment
services have been available in France and Italy — the new partnership with 3
Step IT will enable it to expand this business internationally and to strengthen
its re-marketing capabilities at the end of the contract.
"With this announcement, BNP Paribas Leasing Solutions complements both its
European network, particularly in the Nordic and Baltic countries, and
accelerates its commitment to the circular economy," said Charlotte Dennery,
CEO of BNP Paribas Leasing Solutions. “3 Step IT is the ideal partner to develop
an offer that promotes the recycling and resale of technology equipment made
available to our customers and partners. This transaction aligns perfectly with
the BNP Paribas group's strategy and its 2020 commitment plan, which includes
the circular economy.”
Helsinki-based 3 Step IT offers services that include funding the acquisition
and management of technology (usually IT devices), and then the refurbishing and
re-marketing of them. This partnership will enable 3 Step IT to expand into
other countries, notably in Western Europe, where BNP Paribas Leasing Solutions
“The 3 Step IT team is very excited to partner with Europe’s leading
professional equipment finance company,” says Carmen
CEO of 3 Step IT. “Our company was built around sustainability; now, together
with BNP Paribas Leasing Solutions, we can make the circular economy a reality
and develop more sustainable leasing for technology assets across Europe.”
The alliance between BNP Paribas Leasing Solutions and 3 Step IT confirms the
ambition of both organizations to become leaders in the field of finance and
product-as-a-service solutions for technology equipment in Europe. They also
plan to take a lead in promoting the circular economy with services that help
maintain equipment in use, and recondition returned equipment for resale to
extend its life.
The partners will combine their expertise to provide organizations with a
complete management service for their technology equipment, which will also be
available to manufacturers and distributors to meet their customers’ needs and
Beyond the joint venture territory the BNP Paribas 3 Step IT will provide
similar services to its international clients through a commercial partnership,
mainly in the Nordic and Baltic countries. 3 Step IT operations in Asia are not
included in the partnership and will continue to run as they do today.
This Alliance will be finalised by the end of the first half of 2019, subject to
the agreement of the various regulatory authorities.
*European countries covered by the Alliance: Joint-venture — Austria, Belgium,
France, Germany, Italy, Poland, Portugal, Spain, Switzerland, the Netherlands
and the United Kingdom. Partnership beyond the JV — Denmark, Estonia, Finland,
Latvia, Lithuania, Luxembourg, Norway, Romania, Sweden.
Published Feb 21, 2019 5am EST / 2am PST / 10am GMT / 11am CET