Deals help advance company strategy to sustain the durability of its
information storage business and expand its presence in emerging markets
BOSTON--(BUSINESS WIRE)--
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 for records
management, data
management, document
management, and secure
shredding help 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.
Source: Iron Mountain Incorporated