Iron Mountain has completed approximately $65 million in domestic and international acquisitions to further build its presence in the document storage and data management markets and among small- and medium-sized business clients.
The records management company closed $60 million in purchases of five international companies and an additional five U.S. companies between January and early April, Iron Mountain said Tuesday.
William Meaney, president and CEO of Iron Mountain, said the company sought to enter the records management outsourcing industry in Turkey and Poland through its acquisition strategy.
“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,” Meaney said.
Iron Mountain purchased Turkey-based RM Turkey, a joint venture partner in that country and OSG Poland.
Iron Mountain also increased its share in a joint venture in Denmark and bought Australia-based Tape Management Services.
In the U.S., Iron Mountain acquired Stevens Records Management, Ellis Archives, Vital Records Storage, Hossco Off-Site Data Storage and George Records Express.