Acquisition Will Support Strategy to Expand Leadership in Emerging
Markets
BOSTON--(BUSINESS WIRE)--Aug. 28, 2013--
Storage and information management company Iron Mountain Incorporated
(NYSE:IRM), has agreed to acquire Secure Data Solutions Colombia S.A.S.
and G4S Document Delivery S.A.S., the Colombian records management and
data protection business of G4S, the leading global security and
outsourcing firm. This acquisition represents Iron Mountain’s entry into
the Colombian market. Total consideration for the acquisition is
approximately $54 million. The transaction is expected to close by the
end of September and is subject to customary closing conditions.
Secure Data Solutions Colombia S.A.S. is the largest records management
provider in Colombia, providing Iron Mountain with a solid platform for
long-term country leadership. The transaction is Iron Mountain’s second
in Latin America this year and offers the potential for future
integration benefits within the company’s existing Latin American
business, which includes operations in Argentina, Brazil, Chile, Mexico
and Peru. With the acquisition, Iron Mountain will assume responsibility
for managing Secure Data Solutions’ customer records, including
approximately 2.4 million cubic feet of hardcopy documents and data
protection tapes.
“This acquisition aligns with our objective to grow our presence in
emerging markets that have attractive growth characteristics,” said
William Meaney
, president and CEO of Iron Mountain. “Colombia is the
fourth largest economy in Latin America with strong GDP growth and an
improving business environment. Our entry into this important market is
consistent with our strategy to capture the initial wave of records
outsourcing by acquiring local storage companies with strong records
management platforms and deep customer relationships.”
“Our Secure Data Solutions business in Colombia is a very successful
organic growth story,” said
Grahame Gibson
, regional CEO for G4S
Americas. “The business has become the market leader as a result of
strong and focused management combined with sound growth and performance
over the past several years.”
“Secure Data Solution’s impressive expansion and solid returns have been
driven by delivering trusted and dependable service to organizations
throughout Colombia,” said
Marc Duale
, Iron Mountain’s president of
international operations. “We welcome their employees and customers and
look forward to addressing their information storage and service needs.”
Secure Data Solutions operates in multiple leased facilities across
Colombia in the major markets of Bogota, Cali, Medellin and Pereira. The
transaction follows Iron Mountain’s purchase of Archivium in Brazil in
the second quarter of 2013. Year to date, the company has invested
approximately $110 million acquiring records storage companies in both
North America and international markets.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) is a leading provider of storage
and information management solutions. The company’s real estate network
of over 64 million square feet across more than 1,000 facilities in 35
countries allows it to serve customers around the world. And its
solutions for records management, data backup and recovery, document
management and secure shredding help organizations to lower storage
costs, comply with regulations, recover from disaster, and better use
their information for business advantage. 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.
About G4S
G4S is the world’s leading international security solutions group, which
specialises in outsourced business processes in sectors where security
and safety risks are considered a strategic threat. G4S is the largest
employer quoted on the London Stock Exchange and has a secondary stock
exchange listing in Copenhagen. G4S has operations in more than 125
countries and 620,000 employees. For more information on G4S, visit www.g4s.com.
Source: Iron Mountain Incorporated
Iron Mountain
Investor Relations Contacts:
Melissa Marsden,
617-535-8595
Senior Vice President, Investor Relations
melissa.marsden@ironmountain.com
or
Stephen
P. Golden, 617-535-4769
Vice President, Investor Relations
sgolden@ironmountain.com
or
Media
Contact:
Melissa Mahoney, 617-535-8310
Vice President,
Corporate Communications
melissa.mahoney@ironmountain.com