Restore PLC Acquisition of Capture All Ltd & Trading Update (6418V)
December 15 2021 - 1:59AM
UK Regulatory
TIDMRST
RNS Number : 6418V
Restore PLC
15 December 2021
15 December 2021
Restore plc
("Restore" or the "Group" or "Company")
Trading Update and acquisition of Capture All Limited
Restore plc (AIM: RST), the UK's leading provider of integrated
information and data management services, secure technology
recycling, and commercial relocation solutions, is pleased to
announce that is has acquired 100% of the share capital of Capture
All Limited ("Capture All"), a digital services business based in
Falkirk for consideration of GBP0.9 million.
The acquisition of Capture All further progresses the Group's
strategy to significantly expand Restore Digital, the UK's market
leading digital service business that comprises business process
outsourcing, digital mailroom services, document scanning, cloud
hosted data storage, information management systems and digital
transformation consultancy.
Capture All is a highly respected digital business with a key
position in the Scottish market, operating from two sites in
Falkirk. The Company works across both the private and public
sectors and has experience of complex project delivery including
work for NHS Scotland and the Scottish Fire and Rescue Service.
This is the Group's second acquisition in the digital sector
this year and follows the significant EDM acquisition in April 2021
which doubled the size of the business unit, growing run rate
revenue to GBP46 million per year.
Trading Update:
Further to the update provided at the time of the Group's
capital markets day on 11 November 2021, trading has continued to
be strong with positive development of the sales pipeline, a number
of significant contract wins and business performance in line with
the Board's expectations for the 11 months to 30 November.
Having deployed nearly GBP86 million in eight strategic
acquisitions during the year, the Group continues to appraise a
large number of opportunities across all divisions and is confident
of completing more earnings accretive deals during the first half
of the next financial year, in support of the growth strategy of
the business.
Charles Bligh, CEO, commented:
"I am delighted with this acquisition that further expands the
scale and capability of Restore Digital in line with our stated
growth strategy.
The Restore Group now delivers services from nine sites across
Scotland with over 130 colleagues. We are proud to continue to
invest in our Scottish business and to develop our highly trusted
services for the local public and private sectors as well as
expanding the critical role of Scotland in delivering our services
to the wider UK market."
Restore plc www.restoreplc.com
Charles Bligh, CEO 020 7409 2420
Neil Ritchie, CFO
Peel Hunt LLP www.peelhunt.com
Mike Bell 020 7418 8900
Ed Allsopp
Buchanan Communications www.buchanan.uk.com
Charles Ryland 020 7466 5000
Vicky Hayns
Stephanie Whitmore
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCGPGQPPUPGGQC
(END) Dow Jones Newswires
December 15, 2021 01:59 ET (06:59 GMT)
Restore (LSE:RST)
Historical Stock Chart
From Jun 2024 to Jul 2024
Restore (LSE:RST)
Historical Stock Chart
From Jul 2023 to Jul 2024