The Peltz Group announced that as part of a new marketing partnership it has sold its shredding division, Security Data Destruction, to Iron Mountain Confidential Destruction, a division of Iron Mountain.
Peltz officials said the transaction was a strategic move that would allow the company to continue to grow its successful core business of recycling.
As part of the transaction, The Peltz Group will also provide brokerage services for Iron Mountain in some of the company’s key markets.
“This is an important strategic initiative for The Peltz Group,” said Brian Fielkow, the company’s COO. “We’ve spent several years building our core recycling and brokerage businesses and expanding our operations in that area – in fact, we’ve acquired four recycling businesses in the past four years. This transaction will allow us to take further steps to solidify our position as a leader in the recycling industry. We remain committed to our long-term investment in the recycling industry.”
The Peltz Group and Iron Mountain will work together to ensure a smooth transition for Security Data Destruction customers, Fielkow said.
The Peltz Group, headquartered in Milwaukee, Wis., handles more than 145,000 tons of recovered fiber paper per month.