Shred-it does just what its name says. The company specializes in secure on-site shredding of documents, as well as non-paper items such as video cassettes and CD-ROMs. Shred-it also offers free community shredding services held at off-site locations (police stations, shopping center parking lots), and has a Canadian records management businesses. Shred-it has about 140 branches, most of which are in the US and Canada. It also has operations in about 15 other countries. Its more than 150,000 customers have included HSBC Bank Canada, Robert Half International, and Wells Fargo Home Mortgage. Shred-it is owned by a group of private equity investment firms, and was founded in 1988 by the late Greg Brophy.
The company regularly evaluates its assets in order to maintain a balanced portfolio of offerings. In 2011 it sold its Securit document storage business, which was based in the US, to Recall Corporation, a document management company. It did so to focus on its core document destruction business and Canadian records management businesses. The previous year Shred-it expanded its document destruction assets internationally when it acquired South Wales Shredding, Ltd., a UK-based provider of confidential data disposal services.
Shred-it itself was acquired by Canadian private equity firm Birch Hill Equity Partners Management, along with Westerkirk Capital, and The Crossroads Group, in 2009 for about $90 million. Family members of founder Greg Brophy retained a minority stake in the firm.
The company named Vincent De Palma as president and CEO in early 2010. De Palma previously presided over Pitney Bowes Management Services and the benefit services division of Automatic Data Processing. Previously, the company was operating under interim leadership following Brophy's death in 2007. – less