Iron Mountain to Acquire Regency Technologies - Seite 2

“We are excited to add Regency’s extensive experience of over 20 years, during which we’ve successfully served enterprises, government entities and retailers, to Iron Mountain’s already impressive customer portfolio, which includes 95% of the Fortune 1000,” said Jim Levine, CEO of Regency Technologies. “By integrating our presence, remarketing expertise, and recycling operations into Iron Mountain’s ALM business, we’ll be uniting a broad array of capabilities, further solidifying our leadership in the market.”

Transaction Details

Regency Technologies has trailing four quarter revenues in excess of $100 million. The initial purchase price is $200 million, with $125 million to be paid at close and the remainder due in 2025, which represents an approximate 7.5x multiple of EBITDA. The acquisition also features a potential performance-based earn-out, which would be payable in 2027, if earned. The transaction is subject to customary closing conditions.

Advisors

Weil, Gotshal & Manges LLP is serving as legal counsel to Iron Mountain.

Lazard and Metronome Partners are serving as financial advisors, BakerHostetler and Sonkin Koberna are serving as legal counsel, and BMF is serving as tax advisor to Regency Technologies.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management, innovative storage, data center infrastructure, and asset lifecycle management. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of services including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction, and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.

To learn more about Iron Mountain, please visit: www.IronMountain.com and follow @IronMountain on X (formerly Twitter) and LinkedIn.

About Regency Technologies

Regency Technologies partners with Fortune 500 companies, government organizations, and other clients to process their end-of-use IT assets. The company uses innovative processes and equipment to maximize monetary value, extend the useful life of devices, and support the environmental sustainability goals of its clients.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231102738390/en/

The Iron Mountain Stock at the time of publication of the news with a fall of -0,14 % to 56,36USD on Tradegate stock exchange (02. November 2023, 11:28 Uhr).