Business
Acquisition of Atix Limited
Acquisition of Atix Limited.
About this update from Restore Plc
[{"type":"text","content":"\n \nRNS Number : 8434C Restore PLC 22 April 2013 \n \n\n22 April 2013\n \nRestore plc\nAcquisition of Atix Limited\nRestore plc (\"Restore\" or \"the Company\") is pleased to announce the acquisition of Atix Limited (\"Atix\"), which was completed on 19 April 2013. \nFounded in 1997 and based in Kent, Atix is a records management business with a broad range of customers, predominantly in London and the South East of England. \nAtix was purchased for a cash consideration of £932,000, on a cash free debt free basis, funded from Restore's existing bank facilities. For the 12 months to 31 March 2013, Atix's turnover is expected to be in the region of £845,000, with EBITDA in the region of £232,000. \nThe acquisition of Atix will further strengthen Restore's position as one of the UK's leading providers of records management services and brings the benefit of some strong and long-standing customer relationships.\nCommenting on this acquisition, Charles Skinner, Chief Executive of Restore plc, said: \n\"Atix is a well-established provider of records management services in the South East and its acquisition will further broaden our customer base and provide the Group with additional cross-selling opportunities. Following on from our purchase of File & Data last month, this transaction demonstrates the continued progress of our acquisition-led growth strategy. The Board looks forward to the contribution to the Group that Atix will make\". \n \n\n\n\n\nFor further information please contact:\n\n\n\n\nRestore plc \n\n\n\n\nCharles Skinner, Chief Executive \n\n\n07966 234 075 \n\n\n\n\nAdam Councell, Group Finance Director \n\n\n07860 402 434 \n\n\n\n\nCenkos Securities\n\n\n\n\nElizabeth Bowman / Adrian Hargrave \n\n\n020 7397 8900 \n\n\n\n\nFTI Consulting \n\n\n\n\nNick Hasell \n\n\n020 7269 7291 \n\n\n\n\n\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ACQPGUCPCUPWGAG\n ","length":4155,"tagName":"div"}]