Acquisition of The Bookyard Ltd

RNS Number : 3902R

Restore PLC

08 March 2021

 

8 March 2021

Restore plc

("Restore" or the "Group" or "Company")

Restore Technology acquisition of The Bookyard Ltd

Restore Technology increases capability in the recycling of Apple products

Restore plc (AIM: RST), the UK market leading document management, commercial relocation and IT recycling business, is pleased to announce that it has acquired 100% of the share capital of The Bookyard Ltd ("The Bookyard"), a leading Apple recycling and spare parts business based in Liverpool, UK.

The Bookyard has grown over the last 15 years to be a leading parts supplier, repair centre and website for refurbished Apple products. The Bookyard also operates two market-leading eCommerce sites, www.mac2cash.com and www.click4mac.com which respectively, offer trade-in and recycle options for Apple products throughout the UK. The acquisition of The Bookyard further strengthens Restore Technology's capability in the growing recycling market for Apple products with businesses.

Apple laptops and PCs represent around 10% of the technology market and this is expected to grow further in the future. This acquisition is an important step in extending the scale, brand awareness and repair and refurbishment expertise at Restore Technology. With unique technology and expertise built over many years, The Bookyard will further improve the Company's momentum with Apple Laptop/PC recycling. The Bookyard is a well invested, profitable and cash generative business and is expected to generate revenues of approximately £1.2m per annum.

This acquisition represents another milestone in Restore's strategy for growth via organic expansion, strategic acquisition and margin improvement through synergies and efficiency gains, as outlined in our Capital Markets Day in November 2020.

Charles Bligh, CEO, commented on the acquisition:

"The Bookyard has been on our radar for some time and we are delighted that Nick Gillard and his whole team will be joining Restore Technology. We have achieved considerable growth in our Apple products line over the last few years but the significant brand awareness and expertise that The Bookyard will bring will deliver increasing momentum to Restore Technology in the all-important Apple recycling market."

For further information, please visit:

www.restore.co.uk/Technology  

www.thebookyard.com

Restore plc    www.restoreplc.com  

Charles Bligh, CEO   020 7409 2420

Neil Ritchie, CFO

Peel Hunt LLP  www.peelhunt.com

Mike Bell  020 7418 8900

Ed Allsopp

Buchanan Communications                                              www.buchanan.uk.com  

Charles Ryland  020 7466 5000

Stephanie Watson

Tilly Abraham

 

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