Corporate finance firm wraps up shredding acquisition

Birmingham-based corporate finance firm Springboard has successfully advised on a deal involving the acquisition of two firms supplying a shredding service for confidential documents.

Nicholls and Pearce (Waste Paper) has been providing waste management services for more than 50 years, incorporating cardboard collection, paper recycling and confidential shredding services.

Subsidiaries Data Shred and Lombard Recycling have been acquired by Restore, an AIM-listed support services company providing document management and relocation services to businesses across the UK.

Stuart Nicholls, managing director of Nicholls and Pearce, said: “The disposal of Data Shred and Lombard will enable Nicholls and Pearce to focus on its recycling operations. 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, added: “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.”