Restore plc
{{Short description|British document management company}}
{{Use dmy dates|date=May 2024}}
{{Infobox company
| name = Restore plc
| former_name = Mavinwood plc (2004–2010)
| logo = Restoreplclogo.svg
| logo_caption =
| type = Public limited company
| traded_as = LSE: [https://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/GB00B5NR1S72GBGBXASQ1.html?lang=en RST]
| 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)
| industry = Support Services Company
| services =
| revenue = £215.6m (2019){{cite web|url=https://www.restoreplc.com/Investor-Relations/Financial-Summary |title=Financial Summary|publisher=Restore plc |access-date= 30 May 2019}}
| operating_income = £33.30 million (2018){{cite web|url=http://tools.morningstar.co.uk/uk/stockreport/default.aspx?tab=10&vw=is&SecurityToken=0P00007YY4%5D3%5D0%5DE0WWE%24%24ALL&Id=0P00007YY4&ClientFund=0&CurrencyId=GBP|title = Restore Income statement | RST - Morningstar}}
| net_income = £37.5 million (2018){{cite web|url=https://www.restoreplc.com/Investor-Relations/Financial-Summary |title=Financial Summary|publisher=Restore plc |access-date= 30 May 2019}}
| assets = £516.1 million (2019){{cite web|url=https://www.restoreplc.com/Investor-Relations/Reports-and-Accounts |title=AnnualReport2018 |publisher=Restore plc |access-date= 30 May 2019}}
| equity = £218.5 million (2019){{cite web|url=http://tools.morningstar.co.uk/uk/stockreport/default.aspx?SecurityToken=0P00007YY4]3]0]E0WWE$ALL |title=RestoreFinancials |publisher=Morningstar |access-date= 30 May 2019}}
| num_employees = >2300 (2018)
| divisions = Records Management Datashred Scan Business Relocation
| subsid =
| footnotes =
| intl =
| foundation = 2004
| location = Redhill, Surrey, England
| shares_in_issue =
| homepage = {{URL|https://restoreplc.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 {{Cite web | url=https://www.duedil.com/company/gb/05169780/restore-plc | title=DueDil}} until 4 July 2023. From 5 September 2023 new CEO is Charles Skinner.
History
{{Expand section|date=April 2024}}
Notable acquisitions
Restore PLC acquired Datacare, based in Upper Heyford, in September 2010,{{citation needed|date=August 2021}} followed by Formsafe.{{Cite web|url=https://www.recyclingtoday.com/article/0111-restore-plc-acquires-formstafe/|title=Restore plc Acquires Formsafe|website=Recycling Today|language=en|access-date=2019-05-29}} 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.{{Cite web|url=http://www.stockmarketwire.com/article/4123284/Restore-acquires-assets-of-Sargents-from-administrator.html|title=Restore acquires assets of Sargents from administrator {{!}} 11 April 2011 {{!}} Stock Market Wire|website=www.stockmarketwire.com|access-date=2019-05-29}} 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{{Cite web|url=http://www.pfmonthenet.net/article/53816/Restore-moves-records-on.aspx|title=Restore moves records on|website=www.pfmonthenet.net|access-date=2019-05-29}} and then Paterson Document Management of Glasgow in September, followed by Brunswick Document Management of Middlesbrough in November of the same year.
In October 2011, Restore Shred was formed.
Harrow Green was acquired in February 2012,{{citation needed|date=August 2021}} which included a 50% share in Relocom. ROC Relocations was next in May 2012,{{Cite web|url=https://mergr.com/roc-relocations-acquired-by-restore|title=ROC Relocations, Acquired by Restore plc on May 4th, 2012 {{!}} Mergr|website=mergr.com|access-date=2019-05-29}} followed by M&L Document Destruction in August 2012.{{Cite web|url=https://www.investegate.co.uk/News/restore-confirms-acquisition-of-m-l/358534/|title=FE Investegate {{!}} Company News {{!}} Corporate, London Stock Exchange, Regulatory News Headlines Restore confirms acquisition of M&L|website=www.investegate.co.uk|access-date=2019-05-29}}
Middleton based Archive Solutions signed over their business to Restore plc in October 2012.{{Cite web|url=http://www.manchestereveningnews.co.uk/business/business-news/markets/archive-solutions-acquired-by-restore-in-335m-799557|title=Archive Solutions acquired by Restore in £3.35m deal|last=News|first=Manchester Evening|date=2012-10-02|website=men|access-date=2019-05-29}}
In March 2013, Brabners Chaffe Street advised Restore plc on the acquisition of File and Data Storage Limited,{{Cite web|url=https://www.brabners.com/news/brabners-chaffe-street-advises-restore-file-and-data-acquisition|title=Brabners Chaffe Street advises Restore on File and Data acquisition|website=Brabners LLP|language=en|access-date=2019-05-29}} and both IT Efficient{{Cite web|url=https://www.restoreplc.com/About-Us/Acquisition-History|title=Acquisition History|website=www.restoreplc.com|access-date=2019-05-29}} and Atix of Sittingbourne in Kent{{Cite web|url=https://www.insidermedia.com/insider/southeast/88894-atix-taken-over-restore|title=Atix taken over by Restore|website=Insider Media Ltd|language=en|access-date=2019-05-29}} were acquired soon after in April of the same year.{{citation needed|date=August 2021}}
In April 2013, Restore plc acquired an additional 33% stake in Relocom, the UK IT relocation business, taking its overall stake to 83%.{{Cite web|url=http://www.morningstar.co.uk/uk/news/AN_1400752240824742400/AllianceNewsPrint.aspx|title=Restore Trading In Line, Acquires Cannon Confidential|website=www.morningstar.co.uk|access-date=2019-05-29}}
Magnum Secure of Spennymoor in the North East of England was acquired in April 2014,{{Cite web|url=http://www.corporatelivewire.com/deal.html?id=restore-plc-acquires-magnum-secure-limited|title=Deals - Corporate LiveWire - Corporate LiveWire|website=www.corporatelivewire.com|access-date=2019-05-29}} and a month later, Filebase of Washington, also in the North East of England, was acquired by Restore plc in 13 days in May 2014.{{Cite web|url=https://www.squareonelaw.com/news/corporate-commercial/north-east-advisers-complete-acquisition-record-time/|title=North East Advisers Complete Sale of Filebase Ltd in Record Time|date=2014-05-21|website=Square One Law|language=en-GB|access-date=2019-05-29}}
Also in May 2014, Restore plc acquired Cannon Confidential. The acquisition of Papersafe UK made the news in July 2014.{{Cite web|url=https://www.investegate.co.uk/restore-plc--rst-/rns/trading-update/201407100700069055L/|title=FE Investegate {{!}}Restore PLC Announcements {{!}} Restore PLC: Trading Update|website=www.investegate.co.uk|access-date=2019-05-29}}
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.{{Cite web|url=https://www.youinvest.co.uk/articles/7975/restore-acquire-cintas-document-managment-uk|title=Restore to acquire Cintas Document Management (UK)|date=6 October 2014|website=AJ Bell Youinvest|language=en|access-date=2019-05-29}}
In January 2015, Restore plc announced that it had acquired the business and assets of Ancora Solutions, a document management business, from IPPlus plc.{{Cite web|url=https://www.youinvest.co.uk/node/18622|title=Restore Plc acquires Ancora Solutions for £0.5m {{!}} Wednesday 29 May 2019|website=AJ Bell Youinvest|language=en|access-date=2019-05-29}}
Having acquired ITP Group holdings in the middle of 2015{{Cite web|url=https://mergr.com/restore-acquires-itp-group-holdings|title=Restore Acquires ITP Group Holdings {{!}} Mergr|website=mergr.com|access-date=2019-05-29}} Restore were very quick to acquire The Data Imaging and Archiving Company in August 2015,{{Cite web|url=https://www.investorschampion.com/channel/blog/restore-aimrst-acquisition-is-in-more-familiar-territory|title=Restore (AIM:RST) – acquisition is in more familiar territory|date=2015-08-05|website=Investor's Champion|language=en|access-date=2019-05-29}} and Lancashire based, Crimson UK was also acquired in the same month.{{Cite web|url=https://www.insidermedia.com/insider/national/145621-restore-swoops-crimson-uk|title=Restore swoops for Crimson UK|website=Insider Media Ltd|language=en|access-date=2019-05-29}}
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,{{Cite web|url=https://www.insidermedia.com/insider/southwest/wincanton-sells-records-management-arm-for-55.7m|title=Wincanton records business sold for £55.7m|date=4 November 2014|website=Insider Media Ltd|language=en|access-date=2019-05-29}} and in December 2015, Restore acquired Diamond Relocations, which fit alongside the Harrow Green acquisition.{{Cite web|url=https://markets.ft.com/data/announce/full?dockey=1323-12627120-3PPRFK3U00PGDLR8HRH1A24I26|title=Acquisition of Diamond Relocations Limited – Company Announcement - FT.com|website=markets.ft.com|access-date=2019-05-29}}
Restore plc completed its acquisition of Caerphilly-headquartered PHS Data Solutions from Personnel Hygiene Services Limited in August 2016.{{Cite web|url=https://www.fmj.co.uk/restore-completes-phs-data-solutions-acquisition/|title=Restore completes PHS Data Solutions acquisition|last=OBeirne|first=Sarah|date=2016-08-30|website=FMJ|language=en-US|access-date=2019-05-29}}
In January 2017, Restore announced the acquisition of ID Secured Ltd., which traded as Reisswolf London, from the UK based paper recycling firm Parry & Evans Ltd,{{Cite web|url=https://www.recyclingtodayglobal.com/article/restore-uk-acqusition-reisswolf/|title=Restore plc acquires shredding firm|website=Recycling Today Global|language=en|access-date=2019-05-29}} and in February 2017 Restore plc then acquired The ITAD Works of Surrey, to sit alongside the IT Efficient acquisition.{{Cite web|url=http://www.stockmarketwire.com/article/5498710/Restore-acquires-The-ITAD-Works-Ltd.html|title=Restore acquires The ITAD Works Ltd {{!}} 20 February 2017 {{!}} Stock Market Wire|website=www.stockmarketwire.com|access-date=2019-05-29}}
In July 2017, the Group acquired the trade and assets of Solutions for Archiving, a Dorset-based records management business for £0.4m in cash. The provisional customer relationships acquired were £0.4m.{{Clarify|date=May 2025}}{{Cite web|url=https://www.proactiveinvestors.co.uk/LON:RST/Restore-Plc/rns/LSE20180313070005_13564143|title=Restore Plc - Final Results - Proactiveinvestors (UK)|website=Proactiveinvestors UK|language=en|access-date=2019-05-29}}
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.{{Cite web|url=https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RST/13564143.html|title=Final Results - RNS - London Stock Exchange|website=www.londonstockexchange.com|access-date=2019-05-29}}
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.{{Cite web|url=https://www.proactiveinvestors.co.uk/LON:RST/Restore-Plc/rns/LSE20170815070003_13329724|title=Restore Plc - Acquisition of Baxter Confidential Limited - Proactiveinvestors (UK)|website=Proactiveinvestors UK|language=en|access-date=2019-05-29}}
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.{{Cite web|url=https://markets.ft.com/data/announce/full?dockey=1323-13357572-4CG1MBOHB6GBCIETE9AAC9PHSA|title=Acquisition – Company Announcement - FT.com|website=markets.ft.com|access-date=2019-05-29}}
In January 2018, Restore plc started the year with the purchase of Scanning Direct of Yorkshire{{citation needed|date=August 2021}} and Papershrink of Peterborough.{{Cite web|url=https://www.businessleader.co.uk/scanning-firm-appoints-a-new-sales-director/41433/|title=Scanning firm appoints a new sales director {{!}} Business Leader News|date=2018-03-07|website=Business Leader|language=en-GB|access-date=2019-05-29}}
May 2018 saw the acquisition of TNT Business Solutions, the Records Management arm of TNT UK Limited.{{Cite web|url=https://www.therecycler.com/posts/restore-acquires-tnt-business-solutions/|title=Restore acquires TNT Business Solutions – The Recycler|date=26 March 2018|language=en|access-date=2019-05-29}}
ORS Ltd, a Southampton-based scanning bureau was next to be acquired,{{Cite web|url=https://www.investegate.co.uk/restore-plc--rst-/rns/half-year-results-2018/201809170700038682A/|title=FE Investegate {{!}}Restore PLC Announcements {{!}} Restore PLC: Half Year Results 2018|website=www.investegate.co.uk|access-date=2019-05-29}} 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.{{Cite web|url=https://www.investegate.co.uk/restore-plc--rst-/rns/half-year-results-2018/201809170700038682A|title=FE Investegate {{!}}Restore PLC Announcements {{!}} Restore PLC: Half Year Results 2018|website=www.investegate.co.uk|access-date=2019-05-29}}
Function Business Location Ltd, a London-based removal business, was also acquired in 2018,{{Cite web|url=https://www.proactiveinvestors.co.uk/LON:RST/Restore-Plc/rns/LSE20190318070003_14004951|title=Restore Plc - Full Year Unaudited Results 2018 - Proactiveinvestors (UK)|website=Proactiveinvestors UK|language=en|access-date=2019-05-29}} and the start of October saw Safe-Shred UK Ltd acquired.{{Cite web|url=https://www.proactiveinvestors.co.uk/LON:RST/Restore-Plc/rns/LSE20190318070003_14004951|title=Restore Plc - Full Year Unaudited Results 2018 - Proactiveinvestors (UK)|website=Proactiveinvestors UK|language=en|access-date=2019-05-29}} The technology company Green Magnet Ltd was acquired at the end of October 2018.{{Cite web|url=https://www.investegate.co.uk/restore-plc--rst-/rns/full-year-unaudited-results-2018/201903180700030828T/|title=FE Investegate {{!}}Restore PLC Announcements {{!}} Restore PLC: Full Year Unaudited Results 2018|website=www.investegate.co.uk|access-date=2019-05-29}} October 2018 also saw the acquisition of scanning business Document Capture co Ltd.{{Cite web|url=https://www.proactiveinvestors.co.uk/LON:RST/Restore-Plc/rns/LSE20190318070003_14004951|title=Restore Plc - Full Year Unaudited Results 2018 - Proactiveinvestors (UK)|website=Proactiveinvestors UK|language=en|access-date=2019-05-29}}
Corporate responsibility
Restore meet recognised business standards and are ISO 9001:2015, 14001 and 27001 certified.
Company
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{{Cite web|url=https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=3581585&lang=en-GB&companycode=uk-mvw&v=redesign|title=Full Year Unaudited Results 2018|website=tools.eurolandir.com|access-date=2019-05-29}} falls in line with the natural end of year, being 31 December, and their Annual AGM{{Cite web|url=https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=3582147&lang=en-GB&companycode=uk-mvw&v=redesign|title=Notice of AGM & Annual Report|website=tools.eurolandir.com|access-date=2019-05-29}} usually takes place in March.
References
{{Reflist}}
External links
- https://beta.companieshouse.gov.uk/company/05169780
{{Authority control}}
Category:Companies listed on the Alternative Investment Market