Cornerstone Records Management, a portfolio company of Sterling Partners, has acquired the assets of PageFile Inc. (aka MasterFiles), a Riverside, Calif.-based file storage and management company. No financial terms were disclosed.
PRESS RELEASE
Cornerstone Records Management, LLC announced today that it has completed the acquisition of the assets of Riverside, CA based PageFile, Inc. which operated under the business name “MasterFiles.”
“With customers based in Los Angeles, Orange Country, and the Inland Empire area of Southern California, MasterFiles supports our strategy to continue to expand our presence in Southern California,” said Steven Sisney, President and CEO of Cornerstone. MasterFiles will become part of Cornerstone’s Western Division which is headquartered in Van Nuys, CA.
The acquisition of MasterFiles represents the sixth acquisition completed by Cornerstone since June 2008, and reflects Cornerstone’s philosophy of growing both organically and through acquisition.
“In addition to acquisitions, Cornerstone is continuing to make investments to enhance the services and benefits available to our customers,“ added Sisney. “Cornerstone just completed the move of four Rhode Island facilities into a single, new site in West Warrick, RI. We have also added new vault facilities for the Philadelphia and Rhode Island markets to better serve our customers requirements for the storage of electronic media.”
Cornerstone is continuing to focus on rapidly growing its business in the Southern California, Denver, Northeast and Mid-Atlantic markets.
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 is a leading private equity firm with over 25 years of experience partnering with entrepreneurs to build market-leading businesses and generate superior returns. With approximately $4 billion of assets under management, Sterling invests growth capital in industries with positive, long-term trends and provides ongoing support to management through a dedicated team of industry veterans, operators, strategy experts and human capital professionals. Sterling Partners is a leader in education, healthcare and business services and is co-headquartered in Chicago and Baltimore. For more information, please visit www.sterlingpartners.com.
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