Iron Mountain Announces Four Acquisitions, Entering New Domestic Markets
BOSTON, June 22 – Iron Mountain Incorporated (NYSE:IRM) announced today that it has completed several acquisitions for total cash consideration of approximately $26.2 million. The annual revenues of the acquired companies was approximately $11 million. Mirus Securities represented the shareholders in the Data Vault acquisition. Data Vault, a data security business located in Newport Beach, California, will be integrated into the company’s existing Arcus Data Security operations in Southern California.
“The acquisition of Data Vault represents an important milestone,” stated C. Richard Reese, Iron Mountain’s chairman and chief executive officer. “The transaction marks our continued expansion into electronic data security, and it also provides us with a strong platform for future expansion. In addition, we further expanded our leadership position in the United States by purchasing businesses that extend our presence into growing markets and fortify our existing operations. We believe that the acquired domestic businesses will enable us to service our large national clients more efficiently.”
Iron Mountain currently operates more than 300 records and information management services centers in 69 markets in the United States and six internationally. The Company serves more than 70,000 customer accounts, including more than half of the Fortune 500 Companies. Iron Mountain provides a full array of records and information management services including: (i) off-site storage, management and related consulting services for business, healthcare and vital records; (ii) data security services including off-site storage and rotation of electronic records; (iii) information technology staffing services; and (iv) sales of related products.
About Mirus Securities
Mirus Securities (Member FINRA, SIPC) provides investment banking solutions to corporate clients in technology, business services, manufacturing, consumer products, health care, and the resort & hospitality industry. Since 1987, Mirus has provided corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations, and valuations. For additional information, visit www.merger.com.Back to Transactions