Iron Mountain Enters into Agreement to Expand Presence in China with Acquisition

Agreement to acquire Chinese records management operations of Santa Fe A/S delivers on strategy to expand operations in key emerging markets

 Iron Mountain Incorporated® (NYSE: IRM) today announced it has entered into an agreement to acquire the China records and information management operations of Santa Fe Group A/S, a leading provider of services for international mobility and relocation. The acquisition includes five facilities in four locations in China – Beijing, Shanghai, Dalian, and Guangzhou – serving 700 customers, with storage volumes that include one million cubic feet of records and 51,000 data protection assets, expanding the company’s current operational footprint to 11 facilities in China. The transaction is expected to close later this year.

Established in 1980, Santa Fe has grown to become the leading global mobility services company with operations on six continents providing global, regional or local solutions, including commercial services for office moving, records management, furniture, fixtures and equipment, and specialty art and other special project shipping and exhibition services. 

The acquisition expands upon Iron Mountain’s prior acquisition of Santa Fe’s operations in 10 European and Asian regions that closed in 2016 and earlier in 2017. Iron Mountain’s footprint in Asia now includes a network of 16 facilities in mainland China and an additional 36 facilities across Hong Kong, Macau, Taiwan, Singapore, Malaysia, Thailand, South Korea, the Philippines and Indonesia, serving the storage and information management needs of more than 8,600 customers with services for records information management, data storage, document imaging and secure destruction.

“Our agreement to purchase Santa Fe’s information management operations in China supports Iron Mountain’s strategy to drive growth in key emerging and international markets through acquisition,” said Ernest Cloutier, executive vice president and general manager, International for Iron Mountain. “When seeking opportunities to expand our presence in these regions, we look to acquire or invest in established local companies that share our focus on security and trust as cornerstones of excellent customer service. Coupled with the prior acquisition of Santa Fe’s operations in Europe and Asia, this acquisition will give us a significant presence in the Chinese market, and we look forward to maintaining the high standard of customer service for Santa Fe’s customers.”