Birch Hill Equity Partners is pleased to announce an investment in Shred-it International Inc.
Toronto, June 5, 2009 − Birch Hill Equity Partners announces that is has made an investment in Shred-it International Inc. (“Shred-it”). This is the twelfth investment made through its $850 million fund, Birch Hill Equity Partners III, LP.
Shred-it is a world-leading information security company providing document destruction and records management services that ensure the security and integrity of its clients’ private information. The Company assists organizations in reducing the risks and costs associated with information protection as well as manage complex information challenges such as litigation and regulatory compliance. The company operates 140 service locations in 16 countries worldwide, servicing more than 150,000 global, national and local businesses, including the world’s top intelligence and security agencies, more than 500 police forces, 1,500 hospitals, 8,500 bank branches and 1,200 universities and colleges. Other customers include financial, high-tech, professional services, manufacturing, retail and other businesses as well as government agencies.
As the global leader in the secure document destruction industry, Shred-it presents a compelling investment opportunity. Shred-it has a large diversified customer base, significant recurring revenue streams, and is the market leader in most of its regions. Looking forward, the document destruction industry is forecasted to continue its strong growth due to increased regulation and the continued penetration of the un-vended marketplace. With a strong Company culture and long track record of profitable growth, Shred-it is well positioned to capitalize on these positive trends.
Birch Hill Equity Partners invests in leading Canadian middle-market businesses. Birch Hill’s team has many years of experience working together as an active partner with top management teams in building long term value.
Birch Hill Equity Partners Management Inc.