Iron Mountain Announces Year-to-date International and Domestic Acquisitions
Deals help advance company strategy to sustain the durability of its
information storage business and expand its presence in emerging markets
BOSTON -- April 22, 2014
Storage and information management company Iron Mountain® Incorporated (NYSE:
IRM) today announced a number of acquisitions in both international and
domestic markets, increasing its leadership presence in emerging markets and
adding small and mid-sized customers to its portfolio in the U.S.
Between January and early April, the company invested approximately $65
million in 10 transactions. Five of these acquisitions, representing roughly
$60 million in total consideration, were in key international markets, which
included buying out and increasing ownership in existing joint ventures, with
the remainder of the transactions in the U.S.
Internationally, Iron Mountain acquired RM Turkey, Turkey’s leading provider
of records storage, and also bought out its existing joint venture partner in
Iron Mountain Turkey, which was established in 2006. Elsewhere in Europe, Iron
Mountain acquired OSG Poland a leading provider of document and data
management solutions and increased its ownership in its joint venture in
Denmark. In the Asia-Pacific region, Iron Mountain acquired Tape Management
Services (TMS), Australia's largest independent provider of offsite data
storage and data protection services.
In the U.S., Iron Mountain acquired the inventory of five document storage
companies. These purchases included Stevens Records Management in Waterford,
Mich. and Toledo, Ohio; Ellis Archives in Nashville, Tenn.; Vital Records
Storage in Youngstown, Ohio; and Hossco Off-Site Data Storage and George
Records Express in Harrisburg and Freedom, Penn., respectively.
“The companies we have acquired in emerging markets are high-quality
businesses that advance our strategy for growth,” said William Meaney,
president and chief executive officer of Iron Mountain. “In our developed
markets like the U.S. and Australia, targeted acquisitions of storage
inventory are one way we seek to sustain the durability of our strong cash
flows, expand our market presence and grow storage rental revenues, while
adding complementary small and mid-sized organizations to our customer base.
In emerging markets like Turkey and Poland, where records management
outsourcing is in its early stages, these acquisitions help position us as a
market leader and trusted partner to customers who seek help with protecting
and managing their information.”
About Iron Mountain Incorporated
Iron Mountain Incorporated (NYSE: IRM) is a leading provider of storage and
information management services. The company’s real estate network of over 67
million square feet across more than 1,000 facilities in 36 countries allows
it to serve customers around the world. And its solutions forrecords
management,data management,document management, andsecure shreddinghelp
organizations to lower storage costs, comply with regulations, recover from
disaster, and better use their information. Founded in 1951, Iron Mountain
stores and protects billions of information assets, including business
documents, backup tapes, electronic files and medical data. Visit
www.ironmountain.com for more information.
Dan O’Neill, 617-535-2966
Melissa Marsden, 617-535-8595
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