Acquisition of Reisswolf London

RNS Number : 7844U

Restore PLC

23 January 2017

 

23 January 2017

Restore PLC

Acquisition of Reisswolf London

Restore plc ("Restore") today announces the acquisition of ID Secured Limited, trading as Reisswolf London, the Bedfordshire-based secure shredding business of Parry & Evans Limited.

Reisswolf London was founded in 2002. For the 12 months ending 31 May 2016, it generated revenues of £1.3 million.  The acquisition was funded from Restore's existing bank facilities.

Charles Skinner, Chief Executive of Restore, commented:

"The addition of Reisswolf London, following our recent acquisition of Reisswolf Wales, will expand our customer base in the South East region, produce further economies of scale, and strengthen our position as the second largest provider of secure shredding services in the UK".

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

 

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