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- Redishred Capital (OTCPK:RDCPF) said on Monday that it acquired Confidential Shredding LLC, which offers on-site paper and hard drive shredding, product destruction, and paper recycling services.
- The purchase price is expected to be between $3.2 million and $3.5 million, including earn outs.
- Confidential generated $1.9 million in revenue in 2023, with a pro forma EBITDA margin of 40% to 45%.
- The company sees this acquisition as accretive to cash flows and earnings per share.
- The company said that the deal was financed by utilizing the company’s senior credit facility.
- Kasia Pawluk, Redishred’s Senior Vice President of Acquisitions, said, “The acquisition of Confidential allows us to further densify our footprint in the New Jersey and New York area, including the five boroughs of New York City. We expect to achieve routing, administrative and sales synergies as Confidential’s routes significantly overlap with those of our existing locations.”
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