Record Point is an independent corporate advisory firm specialising in domestic and international advisory services for public and private companies.

Record Point advises Iron Mountain Incorporated on the sale of its legacy business in Australia

Iron Mountain Incorporated (NYSE:IRM) (“IRM”) has completed the sale of its legacy Australian business, Iron Mountain Australia (“IMA”), to a consortium led by Housatonic Partners.

IMA is a leading document and information management services company in Australia offering a comprehensive range of records storage, scanning, data capture and document management solutions. Through its 18 facilities, the company services over 1,000 customers including blue-chip clients from a diverse range of industry verticals.

Housatonic is a US mid-market private equity firm focused on investing in growing, profitable companies in the business services, tech-enabled services and healthcare industries. Founded in 1994 and with offices in San Francisco and Boston, Housatonic has partnered with over 85 management teams since its inception and currently has investments in 26 portfolio companies. Housatonic has experience acquiring and growing several companies in the record management sector in North America and Europe.

In March 2016, the ACCC announced that it would not oppose IRM’s acquisition of Recall Holdings Limited contingent upon IRM’s undertaking to divest its Australian business other than its records management business in the Northern Territory and its national data management business. Following a sale process and receipt of approval from the ACCC, the divestment of IMA closed on 31 October 2016 with the business being rebranded as ZircoDATA.

Record Point acted as the exclusive financial advisor to Iron Mountain Incorporated.