Adding to core records management business and 'transformational' for digital business
Restore plc has entered into an agreement to acquire the EDM Group. The acquisition represents a strategically important transaction for Restore, aligned to its stated acquisition criteria which will be additive to its core Records Management business and transformational for its growing Digital business.
EDM is a UK based information management company offering solutions to large and medium-sized enterprises across four key solution areas: Records Information Management; Digitisation; Digital Mailrooms; and Digital Solutions
Around 74% of EDM revenue is from digital solutions, doubling the size of Restore’s existing digital business, substantially enhancing the product line and creating a strong UK platform
In addition 26% of EDM revenue is from physical records storage, adding approximately 1.9 million boxes across three sites, increasing Restore’s storage base by approximately 10%
Charles Bligh (pictured), Chief Executive of Restore, commented: "I am delighted with the acquisition of the EDM UK business and the value this will create for shareholders. EDM is a business that is well known to us, it is well invested with a loyal customer base and a terrific team of over 430, each of whom we welcome into the Group today. Bringing EDM’s scale and capabilities together with ours will deliver even better offerings for customers and build an even stronger UK player in the management of physical and digital data. This acquisition is in line with the growth strategy of the business outlined over the last two years, which is to grow our Records Management business and to enhance the product portfolio and market share in Restore Digital."