Restore PLC Acquisition of Reisswolf London (7844U)

TIDMRST

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 GBP1.3 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 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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January 23, 2017 02:00 ET (07:00 GMT)