M&A Deal Summary

Crossroads Capital Partners, Westerkirk Capital, Birch Hill Equity Partners and Adams Street Partners Acquire Shred-it International

On June 5, 2009, private equity firm Crossroads Capital Partners, asset manager Westerkirk Capital, private equity firm Birch Hill Equity Partners and asset manager Adams Street Partners acquired business services company Shred-it International

Acquisition Highlights
  • This is Crossroads Capital Partners’ 1st, Westerkirk Capital’s 1st, Birch Hill Equity Partners’ 2nd and Adams Street Partners’ 3rd transaction in the Business Services sector.
  • This is Crossroads Capital Partners’ 1st, Westerkirk Capital’s 3rd, Birch Hill Equity Partners’ 21st and Adams Street Partners’ 1st transaction in Canada.
  • This is Crossroads Capital Partners’ 1st, Westerkirk Capital’s 2nd, Birch Hill Equity Partners’ 16th and Adams Street Partners’ 1st transaction in Ontario.
Investment Fate
  • Shred-it International was sold to a publicly-traded strategic buyer in 2015 for 2.3B USD.

M&A Deal Summary

Date 2009-06-05
Target Shred-it International
Sector Business Services
Buyer(s) Crossroads Capital Partners
Westerkirk Capital
Birch Hill Equity Partners
Adams Street Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Shred-it International

Oakville, Ontario, Canada
Shred-it International, Inc. is a global secure information destruction services provider. Shred-it was formed in 1988 and is based in Oakville, Ontario.

Search 214,239 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 4

Buyer

Crossroads Capital Partners

Chicago, Illinois, United States

Investor Investor


Category Private Equity Firm
Founded 2003
Size Small
Type Sector Agnostic
DESCRIPTION

Crossroads Capital Partners is a private equity firm focused on investing in 'information-intensive' companies where technology can be employed to improve performance. Specific areas of interest include front-office services, back office services, HR & benefits, logistics, and administration services. Target companies are typically profitable and have revenues of $10 to $80 million. Prospective transaction situations include outright sales, management buyouts, recapitalizations, and corporate divestitures. Crossroads Capital Partners is based in Chicago, Illinois.


DEAL STATS #
Overall 1 of 1
Sector: Business Services M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 1
State: Ontario M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2009 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-15 Shred-it International

Oakville, Ontario, Canada

Shred-it International, Inc. is a global secure information destruction services provider. Shred-it was formed in 1988 and is based in Oakville, Ontario.

Sell $2.3B
Buyer

Westerkirk Capital

Victoria, British Columbia, Canada

Category Asset Manager
Size Small
Type Sector Agnostic
DESCRIPTION

Westerkirk Capital is an investment firm focused on partnering with business owners and managers to pursue growth opportunities. The Firm manages private capital for a single Canadian investor and generally takes a long-term approach when investing. Westerkirk is a generalist investor, with interest in transportation, apparel, media, manufacturing, business services, aerospace, consumer products, and real estate. Westerkirk Capital is based in Victoria, British Columbia.


DEAL STATS #
Overall 3 of 6
Sector: Business Services M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 3 of 5
State: Ontario M&A 2 of 3
Country: Canada M&A 3 of 6
Year: 2009 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-04 Gaspard & Sons

Winnipeg, Manitoba, Canada

Gaspard & Sons Ltd. is a manufacturer and distributor of academic regalia, clergy vestments, choral robes, and legal and judicial attire. The Company’s products are primarily sold direct-to-user in Canada, while the U.S. market is served via a combination of company and independent representatives.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-26 Vista Broadcast Group

Courtenay, British Columbia, Canada

Vista Broadcast Group, Inc. is a radio broadcasting company focused on providing local service in each of the communities it serves. Vista Broadcast Group was formed in 2004 and is based in Courtenay, British Columbia.

Buy -
Buyer

Birch Hill Equity Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 5.0B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

Birch Hill Equity Partners is a middle-market private equity firm focused on investments in Canadian companies. Birch Hill targets growth oriented businesses valued between C$50 and C$1000 million. Sectors of interest include agriculture, communications, energy, environmental, entertainment, distribution, healthcare, manufacturing, software, and technology. Birch Hill will not consider investments in real estate, pure commodity companies or start ups. Birch Hill Equity Partners was formed in 1994 and is based in Toronto, Canada.


DEAL STATS #
Overall 26 of 48
Sector: Business Services M&A 2 of 4
Type: Buyout (LBO, MBO, MBI) M&A Deals 18 of 23
State: Ontario M&A 16 of 28
Country: Canada M&A 21 of 42
Year: 2009 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-28 Marsulex

Toronto, Ontario, Canada

Marsulex, Inc. is a provider of industrial services, including environmental compliance solutions for air quality control and industrial hazardous waste streams, and petroleum coke cutting and handling services for oil refineries, and is a producer and marketer of sulphur-based industrial chemicals.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-31 Bluewave Energy

Dartmouth, Nova Scotia, Canada

Bluewave Energy operates as a petroleum delivery company in Canada. It delivers furnace oil, diesel oil, dyed diesel oil, gasoline, Shell lubricants, marine gas oil, and heavy fuel oil to commercial and residential customers, as well as asphalt to highway, street, and airport construction in Western Canada. The company also provides equipment service plans, heating equipment, and oil spill protection, as well as heating, air conditioning, and fuel storage equipment services and finance.

Sell -
Buyer

Adams Street Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1972
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Adams Street Partners is a diversified, global investment firm that targets direct, fund of funds, and secondary investments. Adams' direct investing group covers co-investments in buyout transactions, as well as growth equity and venture capital commitments. The direct buyout and growth equity team looks to commit $5 to $30 million per transaction. For venture related investments, commitments of $5 to $20 million are provided to companies in the technology, life sciences and technology enabled services sectors. Typically, target companies have received prior financing from early stage venture firms and are seeking additional capital to fund product development and commercialization. Adams Street Partners was formed in 1972 and is based in Chicago, Illinois.


DEAL STATS #
Overall 57 of 152
Sector: Business Services M&A 3 of 6
Type: Buyout (LBO, MBO, MBI) M&A Deals 10 of 15
State: Ontario M&A 1 of 2
Country: Canada M&A 1 of 4
Year: 2009 M&A 4 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-01 Integral

Palo Alto, California, United States

Integral is a provider of online multi-sided trading network for foreign exchange. The facility empowers participants across the entire FX market to configure and operate their own automated, unique, private FX business. Integral’s solutions are delivered On Demand enabling FX businesses to flexibly enter new markets quickly and scale efficiently without owning and operating any IT infrastructure of their own. Integral was founded in 1993 and is based in Palo Alto, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-07-15 Rimini Street

Las Vegas, Nevada, United States

Rimini Street is a third-party provider of enterprise software support services, including products licensed by Oracle, SAP, IBM, and Microsoft among others, saving the customer at least 50% on total support costs. Rimini Street was founded in 2005 and is based in Las Vegas, Nevada.

Buy -