Schofield Sweeney advises Squirrel Storage on its acquisition by US-based Cintas
Monday, 26 July 2010 09:18
Ohio-based Cintas Corporation (Nas: CTAS) today announced the acquisition of Squirrel Storage for an undisclosed sum. Established in 1991 with the Head Office in Leeds, Squirrel was the largest independently owned storage business in the UK, employing 240 people and operating 10 record storage centres across six major cities including: London, Manchester, Leeds and Birmingham.The company will now be known as Cintas Document Management UK.
New to the UK market, Cintas operates more than 390 facilities in the US and Canada, employing 30,000 staff and servicing 800,000 businesses. The company, which saw revenues of $3.8 billion in 2009, specialises in corporate identity uniforms, facility services, first aid and safety, fire protection and flame resistant clothing, bathroom supplies and promotional products, as well as document management services. With this acquisition, Cintas Document Management now serves customers in Germany, the Netherlands, Belgium and the UK.
“Squirrel Storage was the perfect strategic investment for Cintas as it has positioned us well to expand our European operations,” said Joe Fribourg, Director of Corporate Development at Cintas. “We also found that Squirrel’s business aspirations and corporate culture aligned very well to ours,” he added.
Simon Ruston, Sales Director at Squirrel Storage, said “Squirrel Storage has developed to a stage where the company is ready for new growth prospects. Cintas has provided us with the opportunity we were seeking in order to expand our operations into Europe.”
The Leeds offices of PKF Accountants & business advisers and Schofield Sweeney Solicitors provided professional advice to Squirrel Storage. US law firm Squires Sanders Dempsey advised Cintas out of their London office.