The Heico Companies LLC has acquired a majority interest in Canada’s Shred-Tech Corporation, producer of mobile and stationary shredding equipment. Heico has partnered in the deal 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 business to its next level,’ says Heico’s chair Emily Heisley Stoeckel. ‘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.’
Strong long-term home
Shred-Tech had reached the point when some of its founding shareholders were ready to exit the business, according to the company’s ceo Rob Glass. ‘We went on a search for a partner that would provide both a strong, long-term home for the company to continue our growth and development,’ he 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.’
6000 machines sold
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.
Since its establishment in 1978, Shred-Tech has installed more than 6000 shredding and recycling systems worldwide. Headquartered in Cambridge, Ontario, the company also has operations in the US, UK and Thailand.
Broad business portfolio
Founded in 1979, Heico Companies LLC is a parent holding company with revenue of over US$ 2.5 billion (EUR 2.26 billion) as well as a diversified portfolio of more than 40 businesses involved in manufacturing, construction and industrial services.
Shred-Tech’s expertise will be highlighted in Recycling International’s special Recycling Technology to be published in October 2019.
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