Cintas deal to sell shredding business worth about half billion

In April, Cintas formed the Shred-it partnership with Birch Hill Equity Partners and other shareholders of Shred-it International Inc. to combine Shred-it’s business with Cintas’ information destruction business. Under the partnership agreement, Cintas received $180 million in cash at the closing of the transaction and retained 42 percent ownership of Shred-it. In May, Cintas also received a $113.4 million dividend from Shred-it.

Mason-based Cintas designs, manufactures and implements corporate identity uniform programs, and provides entrance mats, restroom supplies, first aid, safety and fire protection products and services.