LDC Top 50 2024
Craig Smith
Group Managing Director
ICT Reverse and Mazuma Mobile
As a sales manager for Orange in the mid-nineties, Craig Smith kept hearing the same question: what should we do with our old mobile phones? To tackle the problem he founded mobile phone recycling company SHP in 2000, before expanding into monitors, laptops and desktops. He rebranded to ICT Reverse and sold the business in 2017. The new owners went on to acquire Mazuma Mobile in 2018, before Craig eventually rejoined as Group Managing Director.
He’s now responsible for both companies. “I left school at 16 and always wanted to have my own business. To be employing 174 people in my hometown of Morecambe is something I’m exceptionally proud of.”
I left school at 16 and always wanted to have my own business. To be employing 174 people in my hometown of Morecambe is something I’m exceptionally proud of.”
Q&A
What was your lightbulb moment?
When I was at Orange, corporate clients would ask if they could give me boxes of old mobile handsets; we couldn’t take them at the time and this started to have an impact on new business, so I looked for a solution. The lightbulb moment came when I realised I could make a decent margin by selling unwanted phones to Hong Kong to be refurbished and resold to developing countries. The market was thriving there. I booked a flight to Hong Kong, found some buyers and started SHP, which stood for Second Hand Phones. I had a small telesales team and my mum manned the phone!
How are you supporting a more sustainable future?
Re-use is always the best and first solution, but if we do get a laptop or mobile phone that is beyond repair, we’ll break it down and re-use its individual components. We’ve also been working with Lancaster University on a process to extract precious metals such as copper and gold from redundant circuit boards.
What’s your ambition?
I want both businesses to reach the potential I know they’re capable of. This year, we’ve hit £6.1m EBITDA and I believe we can get to £9m by 2027. We’re also constantly looking for ways to improve our service levels for customers, as well as our working environment – we’re creating a great place to work and that shows in our exceptional employee retention rates.
