RediShred Capital Corp. acquired SelectShred, Inc. for $0.5 million.
June 02, 2024
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RediShred Capital Corp. (TSXV:KUT) acquired SelectShred, Inc. for $0.5 million on May 31, 2024. The purchase price for this acquisition, including earnouts, is estimated to be between $0.4 million and $0.5 million, depending on the achievement of certain financial results. The acquisition was financed by utilizing the RediShred Capital Corp.'s senior credit facility. Select Shred earned approximately $0.3 million in revenue in 2023. Pro forma EBITDA margin of Select Shred which is estimated to be in the range of 35% to 40% and views this acquisition as accretive to the RediShred 's cash flows and earnings per share.
RediShred Capital Corp. (TSXV:KUT) completed the acquisition of SelectShred, Inc. on May 31, 2024.
Redishred Capital Corp. is the owner of the PROSHRED, PROSCAN and secure e-Cycle brands, trademarks, and intellectual property in the United States. The Company operates through three segments: the granting and managing of shredding business franchises under the Proshred trademark (Franchising and Licensing); the operation of corporately owned shredding businesses (Corporate Locations); and supporting the franchises and corporately owned shredding businesses (Corporate). It digitizes, secures, shreds, and recycles confidential documents and proprietary materials for thousands of customers in the United States in all industry sectors. It grants PROSHRED and PROSCAN franchise businesses in the United States and by way of a license arrangement in the Middle East. It also operates fifteen corporate businesses directly. The Companyâs services include home office shredding services, residential shredding services, hard drive destruction services, drop-off shredding services, and others.
REDISHRED CAPITAL CORP. 
