Acquisition

RNS Number : 2863Q

Restore PLC

11 September 2017

 

11 September 2017

Restore plc

Acquisition of Lombard Recycling Limited and Data Shred Limited

Restore plc ("Restore"), the UK office services provider, today announces the acquisition of Lombard Recycling Limited and Data Shred Limited (together "Lombard"), two related secure shredding businesses based in Greenwich, London.

For the 12 months ended 30 September 2016, Lombard's secure shredding activities generated revenues of £1.6 million. The acquisition was funded from Restore's existing bank facilities.

Charles Skinner, Chief Executive of Restore commented:

"Lombard is the fifth secure shredding acquisition we have made since we acquired the Datashred business as part of our acquisition of PHS Data Solutions a year ago. It provides us with further economies of scale and extends our position as the UK's second largest provider of secure shredding services."

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

 

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