Restore buys Welsh secure shredding business

Records management company Restore has bought Reisswolf Wales, Border Counties & Merseyside, the secure shredding division of waste recycling business Parry & Evans, for an undisclosed fee.

Restore’s chief executive, Charles Skinner said: "Following the acquisition of PHS Data Solutions in August, the addition of Reisswolf Wales brings to Restore a new customer base in the Welsh region, further economies of scale, and strengthens our position as the UK's second largest provider of secure shredding services."

Reisswolf Wales, which was bought using the company’s existing bank facilities, generated revenue of £500,000 for the year ended 31 May 2016.

Shares in Restore were up 1.05% to 384p at 0839 GMT.