Cintas OKs Shred-it Sale

Posted July 17, 2015 at 12:32 pm

Cintas Corp., Mason, OH, recently announced an agreement to sell Shred-it International Inc. to Stericycle Inc. for $550 million to $600 million before taxes, according to a news release.

The transaction is expected to close during the fourth quarter of 2015, pending regulatory reviews and the satisfaction of customary closing conditions. Shred-it then will become a subsidiary of Stericycle, a global B2B compliance solutions provider specializing in complex and highly regulated areas of activity.

In April 2014, Cintas joined in a partnership with Birch Hill Equity Partners and other shareholders in Shred-it International to merge Shred-it with Cintas’ document-disposal business.

Click here to learn more about the pending sale of Shred-it and additional background on the Cintas-Shred-it partnership.