Securit Records Management Business to Be Sold
Toronto, Canada, November 11, 2014 - Securit Records Management Inc., an affiliate of Shred-it International ULC. (“Shred-it”), the world-leading information security company, announced today, that a deal has been signed to sell its records management business to Iron Mountain, Ltd.
The sale affects nine Canadian facilities located in: Vancouver, Calgary, Edmonton, Winnipeg, Oakville, Cambridge, Ottawa, Montreal and Halifax. Shred-it will continue to own, operate and grow its substantial information destruction business in Canada.
Shred-it President and CEO Vince De Palma said, “This sale will enable us to redirect our resources and capital to our core information destruction businesses and focus on our long term strategy, which in 2015 will continue to be driven by new acquisitions and organic growth.” De Palma continued, “We remain highly committed to growing Shred-it’s information destruction business in Canada and globally, which continues to perform well.”
There will be no disruption to Shred-it’s Canadian information destruction customers as a result of this transaction. For those customers of Securit Records Management, Inc. that utilize Shred-it for its secure information destruction services, there will be no change to their service either. Shred-it remains highly committed to the Canadian and global information destruction market.
The transaction which was approved by the Board of Directors of the company is expected to close before the end of the year, subject to customary and other closing conditions.
About Shred-it
Shred-it is a world-leading information security company providing information destruction services that ensure the security and integrity of our clients' private information. The company operates in 140 markets throughout 17 countries worldwide, servicing more than 300,000 global, national and local businesses.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) is a leading provider of storage and information management services. The company’s real estate network of over 67 million square feet across more than 1,000 facilities in 36 countries allows it to serve customers around the world. And its solutions for records management, data management, document management, data center management and secure shredding help organizations to lower storage costs, comply with regulations, recover from disaster, and better use their information. Founded in 1951, Iron Mountain stores and protects billions of information assets, including business documents, backup tapes, electronic files and medical data. Visit www.ironmountain.com for more information.
