PHS acquires Safe Records Management
A MANCHESTER-based business handling archiving and storage of documents and electronic media has been sold to PHS Group in a multi-million share sale and property transaction.
Safe Records Management, which has its company headquarters in Middleton, stores more than 11 million archive units for a wide range of professional and commercial clients.
Gordon Haynes, managing director of Safe Records Management, said: “We have developed Safe Records to be a significant force in the regional archiving market and as part of our ongoing growth plans we recognised the value of being able to service companies and organisations nationally.
“To achieve this we needed to find a progressive partner with similar services in other UK regions and this has eventually led us to entering into negotiations with PHS.
“The deal is not only attractive to the shareholders but also provides ongoing and increasing levels of occupation within our properties and offers opportunities, not only for our employees, but also to our customers through the wide range of services that PHS already provides.”
RSM Tenon’s corporate finance team, led by John Daly, has completed the multi-million pounds share sale to support services group PHS, working closely with legal adviser Steve Hartley of Pearson Hinchliffe.
John Daly, managing director of corporate finance at RSM Tenon, said: “It was clear from the outset that Safe Records Management represents a compelling value proposition and we were able to convert that view into an excellent deal for the vendors and a wonderful growth opportunity for a respected purchaser who have a solid reputation for nurturing customers and employees, so everybody wins. I am absolutely delighted to have been involved in this transaction.”
