Birch Hill's Shred-it to buy Iron Mountain’s shredding assets for $29.8 mln
Shred-it International Inc, a portfolio company of Canadian private equity firm Birch Hill Equity Partners and other investors, has agreed to acquire the international shredding assets of Iron Mountain Inc (NYSE: IRM) in the United Kingdom, Ireland and Australia. The purchase price, disclosed by Iron Mountain, is about US$29.8 million. Additionally, Iron Mountain said it has agreed to acquire Securit Records Management Inc, a Shred-it affiliate, for about US$29 million. Both deals are expected to close in 2014. Earlier this year, Shred-it bought U.S.-based Cintas Corp‘s document destruction business. Birch Hill, which is currently launching its fifth fund, led the acquisition of Toronto-based Shred-it in 2009.
12 November 2014•3 mins read
