Iron Mountain Invested $65 million in 10 Acquisitions This Year

Iron Mountain Incorporated announced a number of acquisitions in both international and domestic markets, increasing its 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 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, it acquired OSG Poland, provider of document and data management solutions and increased its ownership in its joint venture in Denmark.

In the AsiaPac region, it acquired Tape Management Services (TMS), Australia’s largest independent provider of offsite 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, MI, and Toledo, OH; Ellis Archives in Nashville, TN; Vital Records Storage Company in Youngstown, OH; and Hossco Off-Site Storage and George Records Express in Harrisburg and Freedom, PA, respectively.

“The companies we have acquired in emerging markets are high-quality businesses that advance our strategy for growth,” said William Meaney, president and CEO, 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.”