Acquisition of 1 Big DataSource: RNS
20 April 2021
("Restore" or the "Group" or "Company")
Acquisition of 1 Big Data Management Ltd
Restore acquisition of a leading local Records Management business
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 it has acquired 100% of the share capital of Big Data Management Ltd ("1 Big Data"), a leading high quality records management business based in Tilbury, London.
Established in 1994, 1 Big Data has been securely managing corporate clients' records for over 25 years and is recognised as one of the highest quality operators in the south east of England. The business is expected to bring in revenues of approximately £600k per annum from its 160,000 boxes.
This acquisition represents a further step in Restore's strategy for growth via organic expansion, strategic acquisition and margin improvement through synergies and efficiency gains, as outlined in the Capital Markets Day in November 2020.
Charles Bligh, CEO, commented on the acquisition:
"With our growing confidence in the performance of Restore, we have reactivated many conversations with companies aligned to our growth strategy over the last six months and I am delighted we have agreed this acquisition in the Records Management business as it brings over 160,000 additional boxes to the Group. 1 Big Data has a great team and a first-class reputation for service and we intend to continue the good work with its customers, whom we welcome to Restore."
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
Buchanan Communications www.buchanan.uk.com
Charles Ryland 020 7466 5000