Gambit Corporate Finance LLP acted in a support capacity to Personnel Hygiene Services Ltd

Gambit Corporate Finance LLP acted in a support capacity to Personnel Hygiene Services Ltd on the divestment of its Data Solutions division to Restore plc.

Restore plc, an office services provider, has entered into a conditional agreement to acquire PHS Data Solutions in an £87.5m deal. 

Caerphilly-headquartered PHS Data Solutions comprises three businesses: PHS Datashred, PHS Records Management and PHS Capital Capture. 

Collectively, the companies have 580 employees, who will transfer to Restore upon completion of the acquisition.

Charles Skinner, chief executive of Restore, said: "The acquisition of PHS Data Solutions is a further significant step in our strategy of consolidation and provides a compelling opportunity to combine with a business of scale whose activities are all core to Restore.

"It will transform our shredding activities to make Restore the second largest operator in an attractive market and provides scope to realise synergies in records management and document scanning. PHS Data Solutions and Restore are an excellent strategic fit whose combination we are confident will drive increased returns for Restore's shareholders."

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