Cornerstone Records Adds On

Cornerstone Records Management, a records information management company backed by Sterling Partners, has acquired the assets of Hamilton Records Management Inc., which will expand Cornerstone’s New York Metro operations.

PRESS RELEASE
Cornerstone Records Management, LLC announced today that it has completed its acquisition of the assets of Hamilton Records Management, Inc.

“We are very excited about adding Hamilton Records to our New York Metro operations,” said Steven Sisney, President & CEO of Cornerstone. “Based in Huntington Station, NY, Hamilton supports our strategy to expand our presence in the Long Island area. They will become part of Cornerstone’s Eastern Division which is headquartered in King of Prussia, PA”.

The acquisition of Hamilton Records Management follows the September 2009 acquisition of Information Management Storage, Inc (IMS) in Southern California and the May 2009 acquisition of East Coast based Nova Records Management which gave Cornerstone a significant presence in the Northeast and Mid-Atlantic markets.

“By accelerating the pace and amount of investment we are making in Cornerstone, we will be able to further enhance the services and benefits available to our customers, expand career opportunities for our employees, and provide an attractive return to our investors,” added Sisney.

In addition to making selective, complementary acquisitions, Cornerstone is focused on driving organic growth. The company opened two new facilities in the California market in the second half of 2008 and has opened a records storage center and a separate media vault in the Denver area this summer. A new records storage facility in Swedesboro, NJ opened in September.

About Cornerstone Records Management
Cornerstone Records Management LLC is a full solution RIM partner, operating in select geographies, that helps our customers achieve their operating and compliance objectives in a flexible and responsive manner. Serving a broad customer base, Cornerstone provides a wide range of services including the storage and management of hard copy records, both plant based and mobile document destruction services, electronic media vaulting, and digital imaging. Cornerstone does business as LA Records Management in the Southern California area, Cornerstone Records Management in the Denver market, and Nova Records Management in the Northeast and Mid-Atlantic markets.

About Sterling Partners
Sterling Partners, the lead investor in Cornerstone, was founded in 1983, and is a growth oriented, private equity firm with offices in Chicago, IL and Baltimore, MD. With over $4 Billion in assets under management, Sterling has established a proven track record of successful investment activity throughout a variety of economic and market environments.