Restore PLC Acquisition of Reisswolf Wales (5994T)

TIDMRST

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 GBP0.5 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 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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January 09, 2017 02:00 ET (07:00 GMT)