Iron Mountain To Sell UK, Ireland And Australian Shredding Operations

(RTTNews) - Iron Mountain® Inc. (IRM) said Tuesday that it has agreed to divest its international shredding operations located in the United Kingdom, Ireland and Australia to Shred-it International ULC for about US$29.8 million.

Additionally, Iron Mountain said it has agreed to buy Canadian-based Securit Records Management Inc., an affiliate of Shred-it International ULC, for about US$29 million.

The deals are subject to customary closing conditions and price adjustments, and are expected to close by the end of the year.

Iron Mountain's international shredding operations include eight shredding plants and approximately 90 mobile shredding units across the UK, Ireland, and Australia.

Iron Mountain will continue to operate its substantial shredding business throughout North America, which includes 21 plants, 290 mobile shredding units and serves more than 43,000 customers.