Restore (AIM:RST) – acquisition is in more familiar territory
Having recently acquired the UK's leading collector of empty printing cartridges, the document management and relocations services was back on more familiar territory with today’s acquisition of The Data Imaging and Archiving Company.
Imaging and Archiving, founded in 1995, provides document management services from its base in South London and serves customers in both the private and public sectors. It’s only a small business which, for the 12 months ending 31 December 2014, generated turnover of £1.3m, on which it recorded a small profit. The purchase consideration of £1.45m on a cash-free basis therefore looks quite high. There must be some hidden value not apparent…
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