Data management and recycling specialist Restore has made good on expansion plans and written a cheque for IT recycling and asset disposal (ITAD) specialist PRM Green Technologies.
Last month the firm revealed it was engaged in more than 25 ongoing acquisition discussions, with several deals expected to be completed in the second half of 2021.
The first of those is IT recycling and asset disposal (ITAD) specialist PRM Green Technologies, with 100 percent of the share capital being picked up by Restore for an undisclosed sum.
PRM is based in Cannock with sites in Carlisle, Taunton and Alton. It has 59 staff, who will remain with the business. The firm has its own e-commerce platform and has built a reputation in the education market, having helped more than 8,000 schools, colleges and universities across the UK dispose of equipment.
It also has an average yearly revenue of £3 million and an average net income of £900,000 achieved over the past three years.
Restore CEO Charles Bligh said the PRM business had a strong reputation and would add more muscle to its recycling and disposal business, which was being overseen by Athena Ainsworth, the new managing director of Restore Technology.
“The addition of PRM to the business will add more scale, expand our e-commerce 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”, he added.
