Acquisition of The ITAD Works Limited

RNS Number : 2366X

Restore PLC

20 February 2017

 

20 February 2017

Restore PLC

Acquisition of The ITAD Works Limited

Restore plc ("Restore") today announces the acquisition of The ITAD Works Limited ("ITAD Works"), a Surrey-based provider of IT asset recovery and recycling services.

ITAD Works was founded in 2002. For the 12 months ending 30 September 2016, it generated revenues of £3.5 million based on unaudited management accounts. The acquisition was funded from Restore's existing bank facilities.

Charles Skinner, Chief Executive of Restore, commented:

"ITAD Works fits well alongside IT Efficient, our existing IT recycling business, and will significantly expand our presence in this growing market."

For further information please contact:
Restore plc
Charles Skinner, Chief Executive	07966 234 075
Adam Councell, Group Finance Director	07860 402 434
Cenkos Securities	020 7397 8900
Nicholas Wells
Elizabeth Bowman
FTI Consulting	020 3727 1340
Nick Hasell
Alex Le May

 

END

 

 

ACQGGUCUPUPMGMM