Acquisition of Diamond Relocations Limited

RNS Number : 3317J

Restore PLC

17 December 2015

 

17 December 2015

Restore plc

Acquisition of Diamond Relocations Limited

Restore plc ("Restore") is pleased to announce the acquisition of Diamond Relocations Limited ("Diamond"), a commercial relocations business based in Croydon, Greater London.

Diamond was founded in 1990 and provides office relocation, document storage, warehousing, and secure shredding services.  Relocation services represent c. 80% of Diamond's turnover.

Diamond was purchased for a consideration of £971,000, funded from Restore's existing bank facilities.  For the 12 months ending 31 March 2015 Diamond generated revenues of £906,000. 

Charles Skinner, Chief Executive, commented: "Diamond fits well alongside Harrow Green, our market-leading office relocations business, and provides us with a base from which to serve customers in South London and the surrounding area."

For further information please contact:

Restore plc
Charles Skinner, Chief Executive	07966 234 075
Cenkos Securities	020 7397 8900
Nick Wells
Elizabeth Bowman
FTI Consulting
Nick Hasell	020 3727 1234

 

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