Iron Mountain Agrees to Acquire Canadian-based Securit Records Management
TORONTO – November 11, 2014 – Iron Mountain® Incorporated (NYSE: IRM), the storage and information management firm, announced today that it has signed a definitive agreement to acquire Canadian-based Securit Records Management Inc., an affiliate of Shred-it International ULC, for approximately CAN$33M (US$29M). The deal is subject to customary closing conditions and price adjustments, and is expected to close by the end of the year.
The acquisition of Securit Records Management’s nine facilities and 3 million cubic feet of records storage and related services enhances Iron Mountain’s Canadian footprint and capacity to meet the requirements of new and existing customers.
“This acquisition aligns with Iron Mountain’s vision to expand our capacity to provide records management services in Canada and to grow our brand as a leading information management solution provider,” said Greg McIntosh, senior vice president and general manager, Iron Mountain Canada. “The deal strengthens our resources in Canada and will assist us in meeting the needs of new and existing customers. We are thrilled to welcome Securit Records Management’s customers to the Iron Mountain family.”
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 centre 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.ca for more information.
Shred-it is a world-leading information security company providing information destruction services that ensure the security and integrity of our clients' private information. The company operates in 140 markets throughout 17 countries worldwide, servicing more than 300,000 global, national and local businesses.