Restore PLC Acquisition of The ITAD Works Limited (2366X)

TIDMRST

RNS Number : 2366X

Restore PLC

20 February 2017

20 February 2017

Restore PLC

Acquisition of The ITAD Works Limited

Restore plc ("Restore") today announces the acquisition of The ITAD Works Limited ("ITAD Works"), a Surrey-based provider of IT asset recovery and recycling services.

ITAD Works was founded in 2002. For the 12 months ending 30 September 2016, it generated revenues of GBP3.5 million based on unaudited management accounts. The acquisition was funded from Restore's existing bank facilities.

Charles Skinner, Chief Executive of Restore, commented:

"ITAD Works fits well alongside IT Efficient, our existing IT recycling business, and will significantly expand our presence in this growing market."

 
 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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February 20, 2017 02:00 ET (07:00 GMT)