BOSTON--(BUSINESS WIRE)--
Iron Mountain Incorporated (NYSE: IRM), the storage and information
management firm, today provided an update on its year-to-date
acquisition activity. The company has invested approximately $150
million to acquire international records and information management
related businesses; additionally, it has invested $12 million this year
to acquire the records inventory of 11 document storage companies,
including 10 organizations in North America and one in Belgium.
Acquisitions are a key component of Iron Mountain’s strategic initiative
to sustain the durability of its business in high-return, developed
markets and to establish market leadership in high-growth emerging
markets.
Included in the year-to-date amounts are the buyout of the company’s JV
partners’ interests in Serbia, Denmark, Russia and the Ukraine. Since
the close of the third quarter, the company acquired ALCZ, a provider of
records management services in the Czech Republic, increasing the size
of Iron Mountain’s business there by 15 percent.
Also during October, the company closed on the purchase of Keepers
Brazil, further expanding Iron Mountain’s footprint in emerging markets.
Keepers provides records and data protection storage and services to
more than 300 customers across various sectors including: banking,
financial, healthcare, automotive, education and government. In
aggregate, Keepers stores and manages 1.4 million boxes and more than
95,000 tapes across five facilities in Sao Paulo.
“Keepers is a successful records management company serving large
corporations as well as small and mid-size firms in Sao Paulo,” said
Luiz Alves, Iron Mountain’s country manager. “We are pleased to welcome
their customers and will continue to provide them with secure storage,
high-quality service and expert advice.”
Brazil’s records management market is expected to continue to grow in
the high single digits annually for the next three to five years, and
Keepers achieved compounded annual revenue growth of 9 percent over the
past four years.
“This acquisition expands our presence in Brazil, one of the key
emerging markets for outsourced records management. It also advances our
strategy for growth, which is designed to enhance the durability of our
business, enabling us to deliver attractive stockholder returns,” said
William Meaney, president and chief executive officer of Iron Mountain.
“Keepers is our fourth acquisition in Brazil in the last two years. We
are achieving steady improvement in profits and returns as we continue
to enhance our leadership position there, and we anticipate further
enhancement as we shift operations to our new campus in Hortolandia,
near Sao Paulo over the next few years.”
The company expects limited impact on 2014 results from these
acquisitions and will provide additional details on the contribution
from recent acquisitions and related capital requirements when it
provides preliminary 2015 guidance when reporting third quarter results
on October 30, 2014.
About Iron Mountain
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, data center 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