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Restore plc
FormerlyMavinwood plc (2004–2010)
Company typePublic limited company
LSE: RST
IndustrySupport Services Company
Founded2004
HeadquartersRedhill, Surrey, England
Area served
UK
Key people
Martin Towers (Non-Executive Chairman), Charles Skinner (CEO), Neil Ritchie FCA (CFO), Sharon Baylay (Executive Director), Susan Davy (Non-Executive Director), Jamie Hopkins (Non-Executive Director)
Revenue£215.6m (2019)[1]
£33.30 million (2018)[2]
£37.5 million (2018)[1]
Total assets£516.1 million (2019)[3]
Total equity£218.5 million (2019)[4]
Number of employees
>2300 (2018)[2]
DivisionsRecords Management Datashred Scan Business Relocation
Websiterestoreplc.com

Restore plc is a company incorporated in England and Wales. The main country of operation is the United Kingdom. It is an AIM-listed support services company and has two divisions: Document Management (Records Mgmt, Digital, Shredding) and Relocation (Office moves and technology recycling).Since 2010, it has expanded through the acquisition and is now driving abroad based high growth strategy based on organic growth, acquisitions and margin expansion,  with the most recent large acquisitions in 2021 of Computer Disposals Ltd and EDM (large Records Mgmt and Digital business).

The Company was floated on AIM in November 2004 and in 2010 the company changed its name to Restore plc. In March 2019 Charles Bligh became the new Chief Executive of the group [5] until 4 July 2023. From 5 September 2023 new CEO is Charles Skinner.

History

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Notable acquisitions

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Restore PLC acquired Datacare, based in Upper Heyford, in September 2010,[citation needed] followed by Formsafe.[6] Formsafe had been operating for 25 years with branches in West Sussex and Aberdare, Wales.

In April 2011, Restore plc announced the acquisition of Sargents Logistics and Sargents Archive.[7] Sargents, based in London, were in administration at the time of the acquisition.

Next for Restore plc, in July 2011, they acquired Management Archives of Leeds[8] and then Paterson Document Management of Glasgow[8] in September, followed by Brunswick Document Management of Middlesbrough[8] in November of the same year.

In October 2011, Restore Shred was formed.

Harrow Green was acquired in February 2012,[citation needed] and Harrow Green owned a 50% share in Relocom which meant that Restore now owned that 50% share in Relocom. ROC Relocations was next in May 2012,[9] followed by M&L Document Destruction in August 2012.[10]

Middleton based Archive Solutions signed over their business to Restore plc in October 2012.[11]

In March 2013, Brabners Chaffe Street advised Restore plc on the acquisition of File and Data Storage Limited,[12] and both IT Efficient[13] and Atix of Sittingbourne in Kent[14] were acquired soon after in April of the same year.[citation needed]

In addition to this, in April 2013, Restore plc acquired an additional 33% stake in Relocom, the UK IT relocation business, taking its overall stake to 83%.[15]

Magnum Secure of Spennymoor in the North East of England became the next acquisition for Restore plc in April 2014,[16] and just a month later, Filebase of Washington, also in the North East of England, was acquired by Restore plc in just 13 days in May 2014.[17]

Also in May 2014, Restore plc acquired Cannon Confidential.[15] The acquisition of Papersafe UK made the news in July 2014.[18]

In October 2014, Restore agreed a deal with Cintas Document Management (UK) Ltd, the UK records management and scanning division of US based Cintas Corporation.[19]

In January 2015, Restore plc announced that it had acquired the business and assets of Ancora Solutions, a document management business, from IPPlus plc.[20]

Having acquired ITP Group holdings in the middle of 2015[21] Restore were very quick to acquire The Data Imaging and Archiving Company in August 2015,[22] and Lancashire based, Crimson UK was also acquired in the same month.[23]

Chippenham in Wiltshire based Wincanton Records Management sold its records management business, one of the largest of its kind in the UK, to Restore plc in November 2015,[24] and in December 2015, Restore acquired Diamond Relocations, which fit alongside the Harrow Green acquisition.[25]

Restore plc  completed its acquisition of Caerphilly-headquartered PHS Data Solutions from Personnel Hygiene Services Limited in August 2016.[26]

In January 2017, Restore plc announced the acquisition of ID Secured Ltd., which traded as Reisswolf London, from the U.K.based paper recycling firm Parry & Evans Ltd,[27] and in February 2017 Restore plc then acquired The ITAD Works of Surrey, to sit alongside the IT Efficient  acquisition.[28]

In July 2017, the Group acquired the trade and assets of Solutions for Archiving, a Dorset-based Records management business for a cash consideration of £0.4m. The provisional customer relationships acquired were £0.4m.[29]

In July 2017, the Group also acquired the shredding activities of Banner group for a cash consideration of £0.3m. The provisional customer relationships acquired were £0.3m.Banner Shredding Activities.[30]

Baxter Confidential of Hampshire was acquired in August 2017 for a cash consideration of £1.4m. Cash of £0.1m was acquired as part of the net assets and the provisional customer relationships acquired were £0.6m and goodwill £1.0m.[31]

The Group then acquired Lombard Recycling Limited and Datashred Limited (together Lombard) for a cash consideration of £2.4m. The provisional customer relationships acquired were £1.1m and goodwill for £1.3m.[32]

In January 2018, Restore plc started the year with the purchase of Scanning Direct of Yorkshire[citation needed] and Papershrink of Peterborough.[33]

May 2018 saw the acquisition of TNT Business Solutions, the Records Management arm of TNT UK Limited.[34]

ORS Ltd, a Southampton-based scanning bureau was next to be acquired,[35] and in August 2018, the Group acquired Spinnaker Waste Management Limited, a Portsmouth-based Waste Electrical and Electronic Equipment (WEEE) and electronic waste recycling for £0.5m.[36]

Function Business Location Ltd, a London-based removal business, was also acquired in 2018,[37] and the start of October saw Safe-Shred UK Ltd acquired.[38] The technology company Green Magnet Ltd was acquired at the end of October 2018.[39] October 2018 also saw the acquisition of scanning business Document Capture co Ltd.[40]

Corporate responsibility

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Restore meet recognised business standards and are ISO 9001:2015, 14001 and 27001 certified.

Company

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Restore plc separate their business into 5 Business Units: Records Management, Digital (Scanning), Datashred, Relocation and Technology (IT Lifecycle).

The Restore plc end of year[41] falls in line with the natural end of year, being 31 December, and their Annual AGM[42] usually takes place in March.

References

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  1. ^ a b "Financial Summary". Restore plc. Retrieved 30 May 2019.
  2. ^ a b "Restore Income statement | RST - Morningstar".
  3. ^ "AnnualReport2018". Restore plc. Retrieved 30 May 2019.
  4. ^ "RestoreFinancials". Morningstar. Retrieved 30 May 2019.
  5. ^ "DueDil".
  6. ^ "Restore plc Acquires Formsafe". Recycling Today. Retrieved 29 May 2019.
  7. ^ "Restore acquires assets of Sargents from administrator | 11 April 2011 | Stock Market Wire". www.stockmarketwire.com. Retrieved 29 May 2019.
  8. ^ a b c "Restore moves records on". www.pfmonthenet.net. Retrieved 29 May 2019.
  9. ^ "ROC Relocations, Acquired by Restore plc on May 4th, 2012 | Mergr". mergr.com. Retrieved 29 May 2019.
  10. ^ "FE Investegate | Company News | Corporate, London Stock Exchange, Regulatory News Headlines Restore confirms acquisition of M&L". www.investegate.co.uk. Retrieved 29 May 2019.
  11. ^ News, Manchester Evening (2 October 2012). "Archive Solutions acquired by Restore in £3.35m deal". men. Retrieved 29 May 2019. {{cite web}}: |last= has generic name (help)
  12. ^ "Brabners Chaffe Street advises Restore on File and Data acquisition". Brabners LLP. Retrieved 29 May 2019.
  13. ^ "Acquisition History". www.restoreplc.com. Retrieved 29 May 2019.
  14. ^ "Atix taken over by Restore". Insider Media Ltd. Retrieved 29 May 2019.
  15. ^ a b "Restore Trading In Line, Acquires Cannon Confidential". www.morningstar.co.uk. Retrieved 29 May 2019.
  16. ^ "Deals - Corporate LiveWire - Corporate LiveWire". www.corporatelivewire.com. Retrieved 29 May 2019.
  17. ^ "North East Advisers Complete Sale of Filebase Ltd in Record Time". Square One Law. 21 May 2014. Retrieved 29 May 2019.
  18. ^ "FE Investegate |Restore PLC Announcements | Restore PLC: Trading Update". www.investegate.co.uk. Retrieved 29 May 2019.
  19. ^ "Restore to acquire Cintas Document Management (UK)". AJ Bell Youinvest. 6 October 2014. Retrieved 29 May 2019.
  20. ^ "Restore Plc acquires Ancora Solutions for £0.5m | Wednesday 29 May 2019". AJ Bell Youinvest. Retrieved 29 May 2019.
  21. ^ "Restore Acquires ITP Group Holdings | Mergr". mergr.com. Retrieved 29 May 2019.
  22. ^ "Restore (AIM:RST) – acquisition is in more familiar territory". Investor's Champion. 5 August 2015. Retrieved 29 May 2019.
  23. ^ "Restore swoops for Crimson UK". Insider Media Ltd. Retrieved 29 May 2019.
  24. ^ "Wincanton records business sold for £55.7m". Insider Media Ltd. 4 November 2014. Retrieved 29 May 2019.
  25. ^ "Acquisition of Diamond Relocations Limited – Company Announcement - FT.com". markets.ft.com. Retrieved 29 May 2019.
  26. ^ OBeirne, Sarah (30 August 2016). "Restore completes PHS Data Solutions acquisition". FMJ. Retrieved 29 May 2019.
  27. ^ "Restore plc acquires shredding firm". Recycling Today Global. Retrieved 29 May 2019.
  28. ^ "Restore acquires The ITAD Works Ltd | 20 February 2017 | Stock Market Wire". www.stockmarketwire.com. Retrieved 29 May 2019.
  29. ^ "Restore Plc - Final Results - Proactiveinvestors (UK)". Proactiveinvestors UK. Retrieved 29 May 2019.
  30. ^ "Final Results - RNS - London Stock Exchange". www.londonstockexchange.com. Retrieved 29 May 2019.
  31. ^ "Restore Plc - Acquisition of Baxter Confidential Limited - Proactiveinvestors (UK)". Proactiveinvestors UK. Retrieved 29 May 2019.
  32. ^ "Acquisition – Company Announcement - FT.com". markets.ft.com. Retrieved 29 May 2019.
  33. ^ "Scanning firm appoints a new sales director | Business Leader News". Business Leader. 7 March 2018. Retrieved 29 May 2019.
  34. ^ "Restore acquires TNT Business Solutions – The Recycler". 26 March 2018. Retrieved 29 May 2019.
  35. ^ "FE Investegate |Restore PLC Announcements | Restore PLC: Half Year Results 2018". www.investegate.co.uk. Retrieved 29 May 2019.
  36. ^ "FE Investegate |Restore PLC Announcements | Restore PLC: Half Year Results 2018". www.investegate.co.uk. Retrieved 29 May 2019.
  37. ^ "Restore Plc - Full Year Unaudited Results 2018 - Proactiveinvestors (UK)". Proactiveinvestors UK. Retrieved 29 May 2019.
  38. ^ "Restore Plc - Full Year Unaudited Results 2018 - Proactiveinvestors (UK)". Proactiveinvestors UK. Retrieved 29 May 2019.
  39. ^ "FE Investegate |Restore PLC Announcements | Restore PLC: Full Year Unaudited Results 2018". www.investegate.co.uk. Retrieved 29 May 2019.
  40. ^ "Restore Plc - Full Year Unaudited Results 2018 - Proactiveinvestors (UK)". Proactiveinvestors UK. Retrieved 29 May 2019.
  41. ^ "Full Year Unaudited Results 2018". tools.eurolandir.com. Retrieved 29 May 2019.
  42. ^ "Notice of AGM & Annual Report". tools.eurolandir.com. Retrieved 29 May 2019.
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