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Freightways acquires another Brisbane business
Freightways acquires another Brisbane Document Destruction business
Freightways Limited (FRE) announces that it has purchased the business and assets of Document Destruction and Paper Recycling Pty Ltd (DDPR), a Brisbane-based document destruction operation. This purchase follows closely on the acquisition of the Shred-X document destruction business announced on 2 July 2007. DDPR’s operations will be merged into those of Shred-X, further strengthening the presence of Shred-X in the Queensland market.
The purchase price for DDPR of A$3.5m will be funded from FRE’s existing finance facilities. Incremental annual EBITDA of $800k is expected to be generated from this latest acquisition following the merger of operations with Shred-X and realisation of the associated synergies.
This acquisition is consistent with FRE’s growth strategy of increasing its presence in the Australian information management market.
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