Restore buys Surrey IT recycling business

Document and records management company Restore has bought ITAD Works, a Surrey-based provider of IT asset recovery and recycling services, for an undisclosed fee.

The AIM-listed company said the acquisition, which was funded from its existing bank facilities will expanded its presence in the IT recycling market.

For the year ended 30 September 2016, ITAD Works generated revenue of £3.5m based on unaudited accounts.

Restore chief executive Charles Skinner said: "ITAD Works fits well alongside IT Efficient, our existing IT recycling business, and will significantly expand our presence in this growing market.”

Shares in Restore were down 0.68% to 365p at 0838 GMT.