Hays holds new records with Rockall purchase

HAYS, the business services group, is set to become the UK's largest records management company with the pounds 20m cash purchase of Rockall Scotia Resources, a specialist computer-based records storage and data management company.

Rockall is the leading supplier of records storage to oil and gas exploration companies including Shell, BP, Conoco and Esso. Storage covers rock core samples, computer tapes, seismic sections, drawings and paper records.

The grouping of Rockall with Hays' existing activities makes the group the biggest in UK records management and establishes a leading position in the European oil records management business. The acquisition is conditional on there being no reference of Hays' new position to the UK Monopolies and Mergers Commission.

Following the purchase of Rockall, Hays will be able to offer customers tape transcription, scanning and systems software specifically for data management.

Ronnie Frost, Hays' chairman, said Rockall's move into local government and healthcare markets, along with a substantial contract with the Inland Revenue, would enable the enlarged business to expand further into the public sector market and take advantage of the Government's policy of contracting out its service requirements.

Half of Rockall's sales are made by overseas subsidiaries and Hays intends to use this as a springboard for expanding its existing record management businesses internationally in both the oil and commercial sectors.

Rockall has six storage centres in the UK, wholly owned subsidiaries in the US and Norway, a part- owned subsidiary in Holland and a joint venture in Germany.

Rockall made pre-tax profits of pounds 2.1m in 1993 on sales of pounds 15.4m. It had net assets of pounds 2.1m at the end of December and on acquisition will have borrowings of pounds 5m.

Walter McKinlay, the former chairman of Rockall, will remain in an advisory capacity providing support for the development and expansion of the international records management business.

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksAn introduction to the ground rules of British democracy
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

SThree: Trainee Recruitment Consultant

competitive: SThree: Are you passionate about sales?Do you have a keen interes...

Recruitment Genius: Loan Adviser - OTE £30,000

£17000 - £30000 per annum: Recruitment Genius: This is an exciting opportunity...

Recruitment Genius: Sales Assistant / Buyer

£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...

Recruitment Genius: Customer Service Advisor

£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...

Day In a Page

Greece debt crisis: EU 'family' needs to forgive rather than punish an impoverished state

EU 'family' needs to forgive rather than punish an impoverished state

An outbreak of malaria in Greece four years ago helps us understand the crisis, says Robert Fisk
Gaza, a year on from Operation Protective Edge: The traumatised kibbutz on Israel's front line, still recovering from last summer's war with Hamas

Gaza, a year on from Operation Protective Edge

The traumatised kibbutz on Israel's front line, still recovering from last summer's war with Hamas
How to survive electrical storms: What are the chances of being hit by lightning?

Heavy weather

What are the chances of being hit by lightning?
World Bodypainting Festival 2015: Bizarre and brilliant photos celebrate 'the body as art'

World Bodypainting Festival 2015

Bizarre and brilliant photos celebrate 'the body as art'
alt-j: A private jet, a Mercury Prize and Latitude headliners

Don't call us nerds

Craig Mclean meets alt-j - the math-folk act who are flying high
How to find gold: The Californian badlands, digging out crevasses and sifting sludge

How to find gold

Steve Boggan finds himself in the Californian badlands, digging out crevasses and sifting sludge
Singing accents: From Herman's Hermits and David Bowie to Alesha Dixon

Not born in the USA

Lay off Alesha Dixon: songs sound better in US accents, even our national anthem
10 best balsamic vinegars

10 best balsamic vinegars

Drizzle it over salad, enjoy it with ciabatta, marinate vegetables, or use it to add depth to a sauce - this versatile staple is a cook's best friend
Greece says 'No': A night of huge celebrations in Athens as voters decisively back Tsipras and his anti-austerity stance in historic referendum

Greece referendum

Greeks say 'No' to austerity and plunge Europe into crisis
Ten years after the 7/7 terror attacks, is Britain an altered state?

7/7 bombings anniversary

Ten years after the terror attacks, is Britain an altered state?
Beautiful evening dresses are some of the loveliest Donatella has created

Versace haute couture review

Beautiful evening dresses are some of the loveliest Donatella has ever created
No hope and no jobs, so Gaza's young risk their lives, climb the fence and run for it

No hope and no jobs in Gaza

So the young risk their lives and run for it
Fashion apps: Retailers roll together shopping and social networking for mobile customers

Fashion apps

Retailers roll together shopping and social networking for mobile customers
The Greek referendum exposes a gaping hole at the heart of the European Union – its distinct lack of any genuine popular legitimacy

Gaping hole at the heart of the European Union

Treatment of Greece has shown up a lack of genuine legitimacy
Number of young homeless in Britain 'more than three times the official figures'

'Everything changed when I went to the hostel'

Number of young homeless people in Britain is 'more than three times the official figures'