Acquisition of Imaging and Archiving

RNS Number : 1061V

Restore PLC

05 August 2015

 

5 August 2015

Restore plc

Acquisition of The Data Imaging and Archiving Company

Restore plc ("Restore" or "the Company") today announces that it has exchanged contracts to acquire the business and assets of The Data Imaging and Archiving Company ("Imaging and Archiving"). Completion is expected to take place on 18 August 2015, following staff consultation.

Imaging and Archiving, founded in 1995, provides document management services from its base in South London and serves customers in both the private and public sectors.

Imaging and Archiving is being purchased for a cash consideration of £1.45 million on a cash-free, debt-free basis, funded from Restore's existing banking facilities.  For the 12 months ending 31 December 2014, Imaging and Archiving's turnover was £1.3 million, on which it recorded a small profit.

For further information please contact:

Restore plc
Charles Skinner, Chief Executive	07966 234 075
Adam Councell, Group Finance Director	07860 402 434
Cenkos Securities
Nick Wells	020 7397 8900
FTI Consulting
Nick Hasell	020 3727 1340

 

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