Acquisition aids Underground Vaults [The Hutchinson News, Kan. :: ]
(Hutchinson News, The (KS) Via Acquire Media NewsEdge) Feb. 08--Underground Vaults and Storage has acquired Document Resources Inc., a Manhattan-based document shredding and destruction company.
"We felt like it was a really good fit for Underground Vaults and Storage," said UVS President Lee Spence. "We were looking for some additional services to provide our customers. It completes a lot of the services we offer. Now we can do this in-house, with our own company, instead of having to contract it out to an outside company."
The owner of Document Resources Inc. approached Underground Vaults, one of its customers, about buying the 16-year-old company, Spence said.
Founded by David Kreller of Manhattan, the business today has shredding facilities in Salina, Hays, Wichita and Manhattan, as well as three mobile shredding trucks.
"They have a fleet of 23 vehicles," Spence said. "Most of them are just used to pick up secured bins and bring them back to the plant for the documents to be destroyed."
Underground Vaults will retain all 23 employees now working at Document Resources facilities, and they'll "continue to run the operations like they've been run."
"We'll just integrate a lot of services that UVS has with the company," Spence said. "They complement each other."
The purchase included contracts with about 2,300 customers, Spence said.
"I assume about 80 percent of them will be new customers for us," Spence said. "They (Document Resources) pretty much cover the whole state."
Documents Resources is National Association for Information Destruction-certified.
"We are pleased to have negotiated this deal with Lee Spence, president of UVS," Kreller stated in a letter to his customers. "Both of our organizations are family-owned, Kansas companies with strong principles of security, confidentiality and customer service. By combining our current offerings with those of UVS, we are ensuring that all of our clients receive enhanced security and conveyance and service offering to take care of the full range of needs."
Underground Vaults is also in the beginning stages, Spence confirmed, of developing an electronic data storage system.
"We're pursuing and researching the idea of doing a data center facility in the mine in Hutchinson," Spence said. "We want to provide a facility for data centers that are already in existence. This would be like a step beyond what current data centers are utilizing. A backup for the backup."
While the computer equipment would be stored in the mine, the data would be in "cloud storage," accessible to customers over the Internet.
"We're still in the beginning stages," Spence said. "We have to work out power and climate control and all that. We have no specific time line on it. It will be several months down the road."
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