Last checked at 15 Dec 2021 07:00
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 £0.9 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 £46 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 £86 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