Access acquires Cintas Document Management
Rob Alston, CEO of Access, headquartered in Livermore, California, has announced the company’s acquisition of the document storage and imaging business of Cincinnati-based Cintas Corp. in 10 U.S. markets. Access’ 74th acquisition expands the company’s presence in its existing markets of Cincinnati, Chicago, Phoenix and Atlanta and provides entry into new markets that include Miami; Indianapolis; Columbus, Ohio; Cleveland; St. Louis; and Denver. The deal closed Oct. 31, 2014.
“We are excited to announce this broad expansion of our business,” Alston says. “By adding six new markets to the 32 we already serve, we are now in a position to meet more of our clients’ needs in perhaps all of the cities in which they do business. Moreover, this acquisition adds significant new capabilities and strength to our digital access solutions offering,” he adds.
Alston says the leaders of Cintas Document Management’s U.S. business will join Access, including general managers who were running each of the branches at the time of the acquisition. “Executive Chad Bevington will take on the role of vice president of sales for Access, and Michael Kosegi will become our vice president, digital services,” he says. “We are very pleased with the high caliber of all our new team members joining us from Cintas Document Management,” Alston says.
Access President John Chendo adds, “This clearly represents a major step forward for Access. Access won’t be slowing down, however, but rather taking this opportunity to fuel continued growth over the long term. As a part of that effort, we will continue to search for and identify strategic acquisition opportunities with select records and information management service providers here in the U.S. and internationally.”
In Brief Paper Storm expands services Paper Storm, a Baxter, Minnesota-based mobile document destruction firm founded in 2002, has expanded and now also offers plant-based shredding. The walk-in service, offered at the company’s Sylvan Commercial Park facility, is for individuals, businesses or organizations with relatively small amounts of sensitive documents to shred. Cost is based on weight, and customers are able to watch as the paper is shredded, Paper Storm says. Paper Storm’s expansion includes a 6,500-foot facility that houses paper shredding and baling equipment.
ARMA comments on H.R. 1233 Overland Park, Kansas-based ARMA International, the nonprofit professional association focused on governing information as a strategic asset, has released a statement commenting on the passage of H.R. 1233, which amends the Presidential and Federal Records Act. President Obama signed H.R. 1233, which modernizes records management by focusing more directly on electronic records, into law Nov. 26, 2014. In its statement supporting the new law, ARMA writes, “H.R. 1233 will create a discipline around the management of electronic messages, which is an important aspect of records management that challenges both public and private sector organizations.” For more details on why ARMA International supports H.R. 1233, read the association’s entire statement at http://bit.ly/1udmGs6. |
Founded in 2004, Access now has an extensive footprint across the United States and a rapidly growing presence in Latin America. Its complete suite of services includes records storage and document management, data protection, digital access solutions, secure destruction and compliance services.
Access recently changed ownership as well. Berkshire Partners LLC, a Boston-based investment firm, announced in October 2014 that it acquired a majority interest in the company from Summit Partners, with offices in London and Boston and in Menlo Park, California. Terms of the transaction were not disclosed.
fastfact
Fifteen percent of c-suite executives surveyed are likely to have never trained staff on security procedures, according to Shred-it’s fourth annual Security Tracker survey.
Iron Mountain to buy Securit Records Management
Toronto-based Securit Records Management Inc., an affiliate of Shred-it International ULC, an information security company, has announced the sale of its records management business to Iron Mountain Ltd., headquartered in Boston.
According to a separate press release issued by Iron Mountain, it will pay $29 million to acquire Securit’s Canadian records management operations.
The sale affects nine Canadian facilities in Vancouver, Calgary, Edmonton, Winnipeg, Oakville, Cambridge, Ottawa, Montreal and Halifax, totaling 3 million cubic feet of records. Two of the largest facilities are in Ottawa and Toronto, where Iron Mountain says it sought additional space to support new and existing customers.
Shred-it will continue to own, operate and grow its information destruction business in Canada.
Iron Mountain says its acquisition of Securit Records Management aligns with the company’s goal to expand its capacity to provide records management services and to grow as a leading information management solution provider.
Shred-it President and CEO Vince De Palma says, “This sale will enable us to redirect our resources and capital to our core information destruction businesses and focus on our long-term strategy, which in 2015 will continue to be driven by new acquisitions and organic growth. We remain highly committed to growing Shred-it’s information destruction business in Canada and globally, which continues to perform well.”
Shred-it’s Canadian information destruction customers will not experience service disruptions as a result of the transaction, the company says, nor will customers of Securit Records Management that use Shred-it’s information destruction services.
Shred-it operates in 140 markets throughout 17 countries, serving more than 300,000 businesses.
Iron Mountain offers solutions for records, data, document and data center management and secure shredding designed to help organizations lower storage costs, comply with regulations, recover from disasters and better use their information.
NAID joins records management coalition
The National Association for Information Destruction (NAID), Phoenix, has reported that it is among the records and information management (RIM) organizations that have joined a coalition of key stakeholders to help the National Archives and Records Administration (NARA) implement the President’s 2011 Memorandum on Managing Government Records and the Office of Management and Budget as well as NARA’s joint 2012 Managing Government Records Directive.
ARMA International, Overland Park, Kansas, formed the coalition, which brings together RIM industry leaders, including those involved in the valuation, creation, storage, use, archiving, deletion and securing of records and information. The coalition will help NARA improve the management, preservation and access to government records and develop and implement new records management techniques to capture real-time interactions, according to the group.
“NAID is proud to be associated with these organizations on this project,” NAID CEO Bob Johnson says. “The private sector has the ability to test and try solutions based on real-world experience that is often lacking in the public sector. It’s our duty to help when we can.”
The coalition currently includes the Association for Information and Image Management (AIIM), Silver Spring, Maryland; the American Health Information Management Association (AHIMA), Chicago; ARMA; NAID; and Professional Records and Information Services Management (PRISM) International, Chicago.
As of late November 2014, the coalition held two meetings and was in the process of formulating its strategic plan.
NARA, while not technically part of this private-sector initiative, welcomes the plan and has been represented during preliminary discussions.
NAID is a nonprofit trade association representing the secure destruction industry. It currently represents more than 1,900 member locations globally. NAID’s mission is to promote the proper destruction of discarded information through education and to encourage the outsourcing of destruction needs to qualified contractors. More information is available at www.naidonline.org.
Recall acquires Business Records Management
Norcross, Georgia-based Recall Holdings Ltd., a global provider of document storage, digital document management and data protection services, has announced the acquisition of Pittsburgh-based Business Records Management LLC (BRM) for $77 million. The purchase is Recall’s sixth since the beginning of the 2015 fiscal year in July 1, 2014.
Recall also has announced that it has completed the sale of its secure destruction service (SDS) business in Germany to Rhenus Data Office GmbH, which the company announced Sept. 3, 2014.
“This has been a strong start to the year for Recall, as evidenced by our sixth acquisition in FY15,” says Doug Pertz, president and CEO of Recall. “This transaction will deliver a positive outcome to customers and shareholders.”
He continues, “We continue to execute on our strategy of sustainable profitable growth and now expect full year FY15 revenue growth to approach double digits as measured in constant currency. Revenue growth will be stronger in the second half of FY15 due to the impact of acquisitions and onboarding of large accounts in implementation. We also expect full year EBITDA (earnings before interest, taxes, depreciation and amortization) growth to be at least in line with revenue growth in full year FY15,” Pertz says.
BRM is a leading records management company with secure storage facilities servicing more than 4,700 clients across Pennsylvania, Ohio, West Virginia, New York and Maryland, Recall says. The acquisition enhances Recall’s presence in key U.S. regions and provides BRM’s clients the ability to securely manage their physical and digital assets through a single partner.
Recall says the integration will add 3.4 million carton equivalents to its total holdings and approximately $21 million of annualized revenue. The acquisition price represents an EBITDA multiple of less than 7 times.
Recall also recently announced that it has increased its syndicated financing agreement to $1.05 billion to support future acquisitions and that it is exploring strategies designed to maximize shareholder value through alternative corporate structures.
Since July 2014, Recall has completed six acquisitions: four in the U.S., one in Australia and one in the U.K.
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