BNP Paribas Leasing Solutions and 3 Step IT have agreed to create a European strategic alliance for technology lifecycle management, with a planned joint venture by the end of the year.

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.

BNP said the service offer was rooted in the circular economy and will meet lessee’s demands for a more flexible and sustainable product as a service.

As a result, the alliance will offer services that help maintain equipment in use, and recondition returned equipment for resale to extend its life.

BNP and 3 Step said they would combine their expertise to provide clients with a complete management service for technology equipment, including

  • understanding client businesses’ customer needs
  • funding
  • tracking and monitoring (what is installed, where it is, who pays, how much, etc.)
  • data destruction, refurbishing and resale of returned equipment

BNP said the equipment will typically include computers, smartphones, printers, and other office equipment. The service will also be available to manufacturers and distributors

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Joint venture

BNP and 3 Step plan a joint venture company to offer the joint services by the end of 2019. The joint venture company, named BNP Paribas 3 Step IT, will be 51% owned by BNP Paribas Leasing Solutions and 49% by 3 Step IT.  With a head office in France, it will also operate in the United Kingdom, Italy, Germany, Belgium and the Netherlands.

In 2020, the new company plans to extend its services to Poland, Spain, Portugal, Austria and Switzerland, to complete the European network.

Beyond the joint venture territory the “BNP Paribas 3 Step IT” alliance 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.

The alliance will be finalized by the end of the first half of 2019, subject to the agreement of the various regulatory authorities.

“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. 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,” said Charlotte Dennery, chief executive officer of BNP Paribas Leasing Solutions.

“The 3 Step IT team is very excited to partner with Europe’s leading professional equipment finance company. 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. This will benefit our clients and build an ever more successful business relationship,” says Carmen Ene, chief executive officer of 3 Step IT.