Restore acquires PRM Green Technologies Ltd
August 11, 2021
Restore Technology continues its expansion momentum with its latest acquisition of PRM Green Technologies Ltd.
Restore plc, a provider of integrated information and data management services, secure technology recycling and commercial relocation solutions, announced that it acquired 100% of the share capital of PRM Green Technologies Ltd (PRM), an IT recycling and asset disposition (ITAD) business, on 9th August 2021.
This is the fourth strategic acquisition by Restore in the ITAD sector in the past 12 months and consolidates Restore Technology’s number one position in this highly fragmented UK market, the company said.
PRM is based in Cannock with sites in Carlisle, Taunton and Alton. The business has a broad product offering (including ink and toner cartridges), operates an ecommerce platform (PCBITZ.com) and has established a strong position in the valuable UK education sector. The integration of PRM into Restore’s existing ITAD business will add further scale, offer operational efficiency, and extend strategic sales channel presence.
This acquisition, the company explained, represents a further milestone in Restore’s strategy for growth, as outlined at the Group’s Capital Markets Day presentation in November 2020, to grow earnings through organic expansion, strategic acquisition and margin improvement through synergies and efficiency gains.
PRM’s team of 59 staff will remain with the business which will be fully integrated into Restore Technology by the end of 2021.
Charles Bligh, Restore plc CEO, commented on the acquisition: “The team at PRM have built a terrific business providing excellent customer service and a great product offering. I am delighted to welcome new colleagues to Restore and I look forward to us continuing to grow our IT recycling and secure disposal business under the leadership of Athena Ainsworth, our new MD of Restore Technology.
“The addition of PRM to the business will add more scale, expand our ecommerce business and provide a strategic presence in the UK education sector. Restore Technology is now comfortably the UK market leader in the recycling of IT assets and with the addition of PRM we have created an even greater opportunity to grow, both organically and through further acquisitions in the future.”
Categories : City News
Tags : Acquisition Business Refurbished IT Restore
