The Heico Cos., Chicago, has announced that it has completed the acquisition of a majority interest in Shred-Tech Corp. Shred-Tech specializes in the design and manufacture of mobile and stationary shredding equipment for the document destruction and recycling industries. Based in Ontario, Shred-Tech also has operations in the U.S., U.K. and Thailand.
Heico has partnered in the acquisition with Rob Glass, Shred-Tech’s president and CEO, who will continue to lead the company.
“Rob Glass and his terrific team have built a high-class company that is a leader in its field; we are excited to work with them to take the company to its next level," Emily Heisley Stoeckel, Heico chairman, says. "We are optimistic that Heico’s array of global resources will help Shred-Tech continue to grow and expand its offering of exceptional products and services to customers worldwide."
“We reached a time when some of our founding shareholders were ready to exit the business, and we went on a search for a partner that would provide both a strong, long-term home for the company and its many valued employees and also the resources to continue our growth and development,” Glass says. “With its deep operating expertise, global network of businesses and long-term investing approach, Heico fits that requirement very well, and we are excited to work with it for years to come.”
Shred-Tech designs and manufactures a range of vehicles that provide mobile document destruction and secure document collection solutions for providers of records information management and secure document destruction services. The company also offers an array of stationary and mobile shredding systems for many different materials and applications in the waste management and recycling industries.