Updates

Restore - Buys rival for £23.5m and becomes no.2 in document management

November 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Restore has acquired Cintas Document Management (CDM), the UK records management division of Cintas Corporation of the US, for £23.5m. The deal is financed by a placing of 7.1m shares (at 210p to raise £14.9m) and a new £15m debt facility.CDM is one of the UK's 10 largest providers of records management services and operates from 12 sites in the UK. The acquisition will enhance group revenue by c.£20m, making Restore the clear no.2 in the UK records management industry. Of the transferred revenues 65% derives from documents management and 35% from scanning services. CDM reported a loss of £0.4m mainly because of low occupancy of c.65% but it is expected to be earnings enhancing in the first full year of ownership, as cost synergie ...

To access our archive of articles and to receive current issues you need to subscribe.

Subscribe now

Already a subscriber? Login

Synergy Health - Receives 1950p bid; SCSW gain: 306%

Prezzo - Early stage bid talks with ASK-owner

Restore - £61m acquisition of EDM (June 2021)

Restore - Prospective PE of 15.2 (September 2020)

Restore (September 2017)

Restore (March 2017)

Restore - Buys No.2 in shredding (August 2016)

Restore - Gain since June 14: 78.3% (April 2016)

Restore (December 2015)

Restore (August 2015)

Restore (April 2015)

Restore (October 2014)

Restore - High visibility of earnings (June 2014)

Radstone - Forecasts for year maintained despite weak first half (December 2004)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X