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Subsequent Events
12 Months Ended
May. 31, 2015
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
On June 29, 2015, Cintas entered into an agreement to acquire the shares of an entity for approximately $130 million in cash consideration. The entity will operate within the First Aid, Safety and Fire Protection Services operating segment and is expected to have annual revenues between $110 million and $120 million. The transaction is pending regulatory approval. The transaction is expected to close in the first quarter of fiscal 2016.
On July 15, 2015, Cintas announced that it entered into a definitive agreement to sell its investment in the Shred-it Partnership to Stericycle, Inc. (Nasdaq: SRCL), a global business to business compliance solutions provider specializing in complex and highly regulated arenas, for consideration of approximately $550 million to $600 million before taxes. The transaction is expected to close in the second quarter of fiscal 2016, subject to obtaining regulatory approvals and satisfaction of other customary closing conditions. Upon closing of the transaction, the Shred-it Partnership will become a wholly owned subsidiary of Stericycle.