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".
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For further information please contact: |
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Restore plc |
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Charles Skinner, Chief Executive |
07966 234 075 |
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Adam Councell, Group Finance Director |
07860 402 434 |
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Cenkos Securities |
020 7397 8900 |
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Nicholas Wells |
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Elizabeth Bowman |
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FTI Consulting |
020 3727 1340 |
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Nick Hasell |
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Alex Le May |
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This information is provided by RNS