Acquisition of Reisswolf Wales

RNS Number : 5994T

Restore PLC

09 January 2017

 

9 January 2017

Restore PLC

Acquisition of Reisswolf Wales

Restore plc ("Restore") today announces the acquisition of the business and certain assets of Reisswolf Wales, Border Counties & Merseyside ("Reisswolf Wales"), the secure shredding division of Parry & Evans Limited, a fibre-based waste recycling business based in Welshpool, Wales.

Reisswolf Wales was founded in 2002.  For the 12 months ending 31 May 2016, it generated revenues of £0.5 million.  The acquisition was funded from Restore's existing bank facilities.

Charles Skinner, Chief Executive of Restore, commented:

"Following the acquisition of PHS Data Solutions in August, the addition of Reisswolf Wales brings to Restore a new customer base in the Welsh region, further economies of scale, and strengthens 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 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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