Document storage, shredding firm continues to grow with purchase of Canadian-based franchiser.
Iron Mountain Inc. announced the acquisition of the assets of the Ottawa, Ontario-based franchiser Proshred Security International Inc. and eight of its Canadian franchisees.
The acquisition strengthens Iron Mountain's Secure Shredding geographical coverage in 12 existing and five additional Canadian markets, including: Victoria BC, Kelowna BC, South West Ont.; Peterborough Ont.; and Saint John NB.
"We are actively growing our Secure Shredding business throughout North America via start-up operations and by acquiring first-rate service providers. With this strategic acquisition, we have greatly advanced our ability to offer Secure Shredding services to our customers in several key Canadian markets," said Richard Reese, chairman and CEO of Iron Mountain. "With Secure Shredding, we're able to help our clients implement shredding programs responsibly as a core component of their records management programs. We're also very pleased to have the Proshred employees join the Iron Mountain team and continue to provide their expert support to customers that seek to manage their organizations' private information securely and without compromise."
Proshred is Iron Mountain's second Canadian shredding acquisition and fifth shredding acquisition this year.
Since the end of the first quarter of this year, Iron Mountain has completed 13 acquisitions. The acquisitions have expanded the company's operations in Germany, and Chile, as well as strengthened the company's secure shredding business in Canada, California, Texas and Oregon, and opened secondary markets in Tennessee, Maryland and North Carolina.