M&A Deal Summary

Iron Mountain Acquires Cornerstone Records Management

On October 18, 2013, Iron Mountain acquired information technology company Cornerstone Records Management from Sterling Partners Private Equity for 191M USD

Acquisition Highlights
  • This is Iron Mountain’s 5th transaction in the Information Technology sector.
  • This is Iron Mountain’s 4th largest (disclosed) transaction.
  • This is Iron Mountain’s 13th transaction in the United States.
  • This is Iron Mountain’s 1st transaction in Colorado.

M&A Deal Summary
Date 2013-10-18
Target Cornerstone Records Management
Sector Information Technology
Buyer(s) Iron Mountain
Sellers(s) Sterling Partners Private Equity
Deal Type Add-on Acquisition
Deal Value 191M USD

Target

Cornerstone Records Management

Aurora, Colorado, United States
Cornerstone Records Management LLC is a provider of secure document storage, document destruction, media vaulting, online backup, imaging, and services to the smallest and largest business, legal, medical, accounting, financial, and real estate organizations.

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Buyer(S) 1

Buyer

Iron Mountain

Boston, Massachusetts, United States
Category Company
Sector Business Services
Employees26,000
Revenue 5.5B USD (2023)
DESCRIPTION

Iron Mountain is a provider of storage and information management services. The Company provides a variety of solutions for records management, data management, document management, and secure shredding to help organizations lower storage costs, comply with regulations, and recover from disaster. Iron Mountain is based in Boston, Massachusetts.

DEAL STATS #
Overall 16 of 32
Sector (Information Technology) 5 of 12
Type (Add-on Acquisition) 14 of 25
State (Colorado) 1 of 2
Country (United States) 13 of 19
Year (2013) 3 of 3
Size (of disclosed) 4 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-24 Archivum Comercial

Campinas, Brazil

Archivum provides customers with a range of solutions for storing, accessing and managing their information. These include storage options for both hardcopy records and magnetic tape cartridges; scanning solutions for digitizing paper files; and secure destruction of information.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-05 LiveVault

Marlborough, Massachusetts, United States

LiveVault Corp. is a provider of disk-based online server backup and recovery solutions for small and mid-size businesses and for corporations with remote offices.

Sell -

Seller(S) 1

SELLER

Sterling Partners Private Equity

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sterling Partners Private Equity is the private equity arm of asset management firm Sterling Partners. Sterling Partners Private Equityis focused on investing in small to medium-sized companies positioned for growth, either organically or through acquisitions. Sterling has a strong interest in businesses with differentiated products, defensible competitive positions, recurring revenues, and diversified customers. The Firm's target equity commitment size is $5 to $175 million. Broad sectors of interest include direct marketing, education, specialty distribution, specialty manufacturing, healthcare, technology, and business services. Sterling Partners was formed in 1983 and is based in Chicago, Illinois.

DEAL STATS #
Overall 24 of 51
Sector (Information Technology) 4 of 6
Type (Add-on Acquisition) 16 of 34
State (Colorado) 1 of 1
Country (United States) 24 of 49
Year (2013) 3 of 3
Size (of disclosed) 9 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-21 Avectra

McLean, Virginia, United States

Avectra is the provider of enterprise and on-demand membership management software solutions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-06 Innotrac

Johns Creek, Georgia, United States

Innotrac Corporation is a commerce provider integrating digital technology, fulfillment, contact center and business intelligence solutions to support global brands. Innotrac's fulfillment, order management and contact center solutions are integrated with all major web platforms, and seamlessly integrate with any required partner technologies. Innotrac employs sophisticated order processing and warehouse management technology and operates eight fulfillment centers and one call center spanning all time zones across the continental United States.

Buy $107M
Mergr

Product

Company

Legal