Iron Mountain Acquires Four More Records Management Firms

Iron Mountain (Boston) has acquired four more records management companies, for a total of $13 million in cash, including $2 million in real estate. The four companies ­ Sloan Vaults (San Diego), Records Venture One (Phoenix), Beskins Records Management (Omaha), and Midwest Records Management (Omaha) ­ had estimated 1997 revenues of about $6.1 million. Sloan Vaults provides off-site data security services. Records Venture One (dba IMC of Arizona) is a Phoenix-based firm specializing in medical records management. The acquisition of Beskins and Midwest Records Management, who serve 500 customers in the Omaha market, "gives us the dominant position in both data security and business records management in this new market," according to Iron Mountain chairman and CEO C. Richard Reese. The Sloan Vault and IMC acquisitions give Iron Mountain added presence in the medical and electronic records vertical markets.

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