Iron Mountain Reaping Benefits from Recall Holdings Acquisition
William Meaney, president and CEO of Iron Mountain Inc. (NYSE: IRM), joined REIT.com for a video interview at REITWeek 2017: NAREIT’s Investor Forum at the New York Hilton Midtown.
Meaney reflected on the company’s purchase last year of Recall Holdings Ltd., which made Iron Mountain the only global records management company. He noted that the deal, in combination with a restructuring of overheads, has allowed the company to reap about $230 million of benefits.
The transaction also provided a strategic benefit for customers, according to Meaney. By adding more scale, Iron Mountain can help its customers deal with increasingly complex litigation or regulatory requests.
As it meets with investors, Iron Mountain has stressed the importance of emerging markets to the growth strategy, according to Meaney. The company is also highlighting the opportunities it sees in data centers and art storage, he said. Meaney added that Iron Mountain hasn’t ignored growth prospects in its most mature markets.
Meanwhile, Meaney highlighted Iron Mountain’s sustainability record. The company was recently named as one of the top 25 purchasers of green power within the Fortune 1000 group, he noted.
“We are punching above our weight in terms of how much green power we are consuming,” Meaney said.
Published at Mon, 10 Jul 2017 19:18:19 +0000