Springboard is delighted to announce that it has advised Nicholls and Pearce on the sale of Data Shred and Lombard to Restore plc.
About the deal
Nicholls and Pearce (Waste Paper) Limited has been been providing waste management services across Greater London for over 50 years, incorporating cardboard collection, paper recycling and confidential shredding services.
Subsidiaries Data Shred and Lombard Recycling, both of which provide confidential shredding services, have been acquired by strategic trade acquirer Restore plc, an AIM-listed support services company providing document management and relocation services to businesses across the United Kingdom.
Stuart Nicholls, Managing Director of Nicholls and Pearce commented “The disposal of Data Shred and Lombard will enable Nicholls and Pearce to focus on its recycling operations, offering one-off and regular scheduled collections within the M25. We continue to be focussed on serving our diverse customer base with efficient and competitive recycling services.”
Ben Bolt, Partner at Springboard who advised Nicholls and Pearce on the transaction commented “We are delighted to have supported Nicholls and Pearce and the Nicholls family on this important transaction which makes strategic sense and will free up both management and working capital resource to contribute to the ongoing success of the business. The deal illustrates the continuing appetite amongst strategic trade acquirors in the support services sector.”
How we made a difference
- Advised the management team throughout all stages of the process;
- Provided strategic advice to optimise the exit;
- Managed the sales process and buyer expectations around financial reporting;
- Project managed due diligence and legal processes and ensured bottlenecks were identified and dealt with; and
- Negotiated an ongoing property agreement between buyer and seller as part of the deal
The Client on Springboard
“Springboard provided pragmatic advice throughout the process, helping to unblock bottlenecks, managing the expectations of the acquirer and demonstrating persistence to ultimately deliver the deal.”
Stuart Nicholls, Managing Director – Nicholls and Pearce