Iron Mountain Incorporated completed the acquisition of Regency Technologies.
January 02, 2024
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Iron Mountain Incorporated (NYSE:IRM) has entered into a definitive agreement to acquire Regency Technologies for $200 million on October 30, 2023. 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. Regency Technologies has trailing four quarter revenues in excess of $100 million. The transaction is subject to customary closing conditions. Michael J. Aiello, Iliana Karaoglan, Graham Magill, Charan Sandhu, Luis Gonzalez, Aimee Adler, John Barry, Rebecca Sivitz, John Scribner, Michael Naughton, Annemargaret Connolly, Matthew Morton and Ariel Fliman of 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.
Iron Mountain Incorporated (NYSE:IRM) completed the acquisition of Regency Technologies on January 3, 2024.
Iron Mountain Inc is engaged in a physical ecosystem supporting information storage and retrieval for businesses which rely on paper documents or computer tapes to store their valuable information. The Companyâs segments include Global Records and Information Management (Global RIM) Business and Global Data Center Business. The Global RIM Business segment includes various offerings, including records management, data management, global digital solutions, secure shredding, secure shredding, and consumer storage. The Global Data Center Business segment provides data center facilities and the capacity to protect mission-critical assets and ensure the continued operation of its customersâ information technology (IT) infrastructure with data center options. The Company also offers IT asset disposition customer solutions. It serves industries, such as commercial, legal, financial, healthcare, insurance, life sciences, energy, business services, entertainment and government organizations.
IRON MOUNTAIN INCORPORATED 
