Birch Hill's Shred-it gets bigger with Cintas combination
Shred-it International Inc has completed its merger with U.S.-based Cintas Corp's document destruction business. The combined company, which will operate under the Shred-it brand, will be 58% owned by existing investors in Shred-it, which include Canadian mid-market private equity firms Birch Hill Equity Partners, Manulife Capital and Westerkirk Capital. Cintas will own 42%. The company will be headquartered in Oakville, Ontario, and have its U.S. head office in Cincinnati, Ohio. Going forward, Shred-it is expected to have revenues in excess of US$600 million, and operate in more than 140 markets in 18 countries. Birch Hill and an investor group acquired the company in June 2009. Financial terms of the Cintas deal were not disclosed.
2 May 2014•3 mins read
