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Restore

RST · AIM · Industrial Goods and Services · mcap £404m · 308.0p

Restore stores and digitises business and public-sector records, runs secure document shredding, and provides IT recycling and related services. Most income is recurring, from storage and multi-year contracts such as those with the DWP and HMRC.

Recent signals

Positive 28 Jul 2026

£20m buyback funded from cash generation

£4.6m bought in H1 while leverage fell to 1.7x. 28 Jul 2026 16 Mar 2026

Mixed 28 Jul 2026

Guidance eased from 'slightly ahead' to 'at least in line'

March 2026 outlook was slightly ahead of consensus; July says at least in line. 28 Jul 2026 12 Mar 2026

Mixed 28 Jul 2026

CEO/CFO succession announced

CFO Dan Baker to become CEO and Skinner Chair from January 2027; CFO successor search under way. 28 Jul 2026

Positive 23 Apr 2026

Harwood Capital raised stake from 12.07% to 15.09%

Large holder increased its holding between December 2025 and April 2026. 23 Apr 2026 8 Apr 2026 9 Dec 2025

Positive 19 Dec 2025

Directors bought shares in December 2025

CEO and a non-executive director bought shares in December 2025 around the Harrow Green disposal. 19 Dec 2025 10 Dec 2025

Capital actions
  • 2026-07-28 acquisition · £6.0m – Four bolt-on acquisitions in 2026 (three Datashred, one Information Management) for aggregate consideration 28 Jul 2026
  • 2026-03-16 buyback programme · £20m – Share buyback in two £10m tranches, ending no later than 31 March 2027 16 Mar 2026
  • 2025-12-09 disposal · £5.5m – Sold Harrow Green to Bouverie Holdings for £5.5m cash plus £2.0m contingent; proceeds repay debt 9 Dec 2025
  • 2025-12-09 debt refinancing · £150m – Refinanced with £150m RCF plus £50m accordion 9 Dec 2025
  • 2025-05-13 acquisition · £7.9m – Acquired Shred-on-Site for £7.9m 13 May 2025
  • 2025-03-13 acquisition · £22m – Acquired Synertec for £22m initial cash plus deferred consideration; £11m existing debt assumed 13 Mar 2025

From the company's own announcements · not investment advice

Company filings. Not investment advice.

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