REG - Restore PLC - Acquisition of Capture All Ltd & Trading Update

RestoreAnnouncement

15/12/2021 07:00

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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 £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
(http://www.restoreplc.com/)

Charles Bligh,
CEO
 020 7409 2420

Neil Ritchie, CFO

 

Peel Hunt
LLP                                                                     www.peelhunt.com
(http://www.peelhunt.com/)

Mike
Bell
020 7418 8900

Ed Allsopp

 

Buchanan Communications
         www.buchanan.uk.com (http://www.buchanan.uk.com/)

Charles
Ryland
020 7466 5000

Vicky Hayns

Stephanie Whitmore

 

 

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