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Shred-it to Be Acquired by Stericycle for $2.3 Billion
- Client News
- July 15, 2015
Stericycle, Inc. announced that it has entered into a definitive agreement to acquire privately held Shred-it International, a portfolio company of Paul, Weiss client Birch Hill Equity Partners Management Inc., for $2.3 billion in cash. The transaction has been unanimously approved by the boards of directors of both companies. Upon closing, expected in the fourth quarter of 2015, Shred-it will become a wholly owned subsidiary of Stericycle.
Stericycle, which is a U.S.-based company operating in 13 countries, focuses on compliance and related services by providing solutions that protect people and brands, and promote health and safeguard the environment. Shred-it is a Canada-based secure information destruction services provider.
The Paul, Weiss team included, among others, corporate partners Matthew Abbott and Adam Givertz and counsel Didier Malaquin; and tax partner Scott Sontag and counsel Alyssa Wolpin.
