17 December 2015
Restore plc
Acquisition of Diamond Relocations Limited
Restore plc ("Restore") is pleased to announce the acquisition of Diamond Relocations Limited ("Diamond"), a commercial relocations business based in Croydon, Greater London.
Diamond was founded in 1990 and provides office relocation, document storage, warehousing, and secure shredding services. Relocation services represent c. 80% of Diamond's turnover.
Diamond was purchased for a consideration of £971,000, funded from Restore's existing bank facilities. For the 12 months ending 31 March 2015 Diamond generated revenues of £906,000.
Charles Skinner, Chief Executive, commented: "Diamond fits well alongside Harrow Green, our market-leading office relocations business, and provides us with a base from which to serve customers in South London and the surrounding area."
For further information please contact:
Restore plc |
Charles Skinner, Chief Executive |
07966 234 075 |
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Cenkos Securities |
020 7397 8900 |
Nick Wells |
Elizabeth Bowman |
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FTI Consulting |
Nick Hasell |
020 3727 1234 |
