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Shred-it Divests Its US-Based Records Management Business
Mar 01, 2011 (03:03 PM EST)
Will continue to focus on organic and acquisition growth within its core document destruction business
TORONTO, March 1, 2011 /PRNewswire/ -- Shred-it, the world-leading information security company providing document destruction services across 140 service locations in 16 countries, has today announced the divestiture of its US-based records management business, operating under the Securit trade name, to Recall Total Information Management Inc.
The divestiture affects the three US facilities located in Dallas, Chicago and Birmingham. Shred-it will continue to own, operate and grow its records management business in Canada which continues to perform well.
Shred-it President and CEO Vince De Palma said, "While our document management service continues to operate well in other markets, we have decided to divest our US records management business. This divestiture will enable us to redirect our resources and capital to our core document destruction and Canadian records management businesses and focus on our long term strategy, which in 2011 will be driven by new acquisitions and organic growth."
There will be no disruption to Shred-it's US document destruction customers as a result of this transaction. For those customers of Securit that utilize Shred-it for its secure document destruction services, there will be no change to their service. Shred-it remains highly committed to building on its leadership position in the US document destruction market.
Shred-it is a world-leading information security company providing document destruction services that ensure the security and integrity of our clients' private information. 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. For more information, please visit www.shredit.com.