The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

Thursday, 2 July

Noel's Multi-national Swap Shop

It was announced yesterday in Boston that IronMountain, a storage and information management firm, had signed a definitive agreement to divest its international shredding operations located in the United Kingdom, Ireland and Australia to Shred-it International ULC. The sale value is approximately US$29.8 million.

Shred-it in return has agreed to sell its Canadian based Securit Records Management Inc. business for approximately US$29 million. The deals are subject to customary closing conditions and price adjustments, and are expected to close by Christmas.

Iron Mountain’s international shredding operations include eight shredding plants and approximately 90 mobile shredding units across the UK, Ireland, and Australia.

“We chose to divest our UK, Irish and Australian shredding businesses because collectively they are much smaller than our North American operations, and we did not benefit from the same scale,” said William L. Meaney, president and CEO of Iron Mountain. “After an extensive review of our international product portfolio, we concluded that collaborating with Shred-it was a better option in these countries, allowing us to support our customers’ document destruction needs and freeing-up resources for making future investments in our growing records management and data management businesses.”

Shred-it EVP of EMEA Robert Guice said: “This is a strategic opportunity for Shred-it and this acquisition would allow us to leverage existing infrastructure to expand our customer base in key EMEA markets. Acquisitions will continue to play an important role in Shred-it’s corporate plans.”

In the past four years, Shred-it has acquired 28 secure destruction companies.


Securit Records Management

Securit Records Management in Canada consists of nine facilities and 3 million cubic feet of records. Two of the largest facilities are located in Ottawa and Toronto, where Iron Mountain sought additional space to support new and existing customers.


Iron Mountain

Iron Mountain has a shredding business throughout North America serving more than 43,000 customers. it features 21 plants, 290 mobile shredding units and serves.



Shred-it offers destruction services that ensure the security and integrity of clients' private information. The company operates in 140 markets throughout 17 countries worldwide, servicing more than 300,000 global, national and local businesses.

Article written by Brian Shillibeer


Related Articles

Getting Sporty - Sodexo In Major Transfer Deal

Sodexo and Olympus Partners has announced (Nov 15) that Sodexo has signed an agreement to acquire Centerplate, Inc. a provider of food and beverage, merchandise and...

 Read Full Article
FM - Here Is THE News

BBC - Here is the News The Beeb will continue receiving its FM from Interserve in a £140 million contract running until 2023. This latest four-year extension to...

 Read Full Article
Squaring It With Qube

MRI Software has acquired Qube Global Software, a UK based provider of property and facilities management Solutions. The acquisition, according to MRI, extends the...

 Read Full Article
Sprinkling the Magic - Cordant Shares Wealth

The Cordant Group, a massive recruitment business with a substantial FM services arm has become a Social Enterprise. Meaning the majority of the Group's profits will...

 Read Full Article
Propelling Propelair. Massive Investment Secured

Propelair, a ThisWeekinFM Partner, has seen Investec and fund managers Earth Capital Partners (ECP) and Universal Partners (UP) make a substantial investment in the maker...

 Read Full Article
ABM Buys GCA Services Group

September 1 saw ABM announce (in New York) that it had completed its acquisition of GCA Services Group for approximately $1.25 billion, consisting of approximately $851...

 Read Full Article
Ground Control to Major Deal

Ground Control has strengthened its winter maintenance capabilities through the acquisition of Litter Boss, claiming the acquisition of increases nationwide economies of...

 Read Full Article
Buying and Funding - Software and Fit-out Firms' Financials

Service Works Group (SWG), the international provider of facilities, property and workplace management software, has been acquired by Addnode Group, a European supplier...

 Read Full Article
Bidvest Group Acquires Noonan

The Bidvest Group has completed an agreement with the majority shareholder in Noonan, Alchemy Partners LLP, which will see Bidvest acquire the entire shareholding in...

 Read Full Article
Taking Controls

Johnson Controls and Tyco have finally completed their merger to create what  many would argue is the world's largest building controls developer, manufacturer...

 Read Full Article