Graycliff Partners said on Tuesday that Iron Mountain, an information management and storage provider, has bought Information Storage Consolidation Company (ISCC). No financial terms were disclosed. Information Storage Consolidation is a records storage company with facilities in Texas, Michigan and Florida. Prior to Iron Mountain’s acquisition, Graycliff had a majority stake in ISCC.
NEW YORK–(BUSINESS WIRE)–Graycliff Partners LP (“Graycliff”), a middle market investment firm focused on private equity and mezzanine investments in the US and Latin America, announced that Iron Mountain Incorporated (NYSE:IRM), a provider of storage and information management services, has acquired Information Storage Consolidation Company (“ISCC”), a records storage business with operations in Texas, Michigan, and Florida. Graycliff held the majority ownership of ISCC at the time of the acquisition. Financial terms of the transaction were not disclosed.
Headquartered in Carrollton, Texas, ISCC is a leading provider of outsourced document services, including physical storage, storage services, destruction and imaging to customers throughout the Southern and Midwestern United States in industries such as healthcare, business services, financial and legal.
“It has been a privilege to work with Ron Harper and the ISCC management team in building a leading document storage business that services a diverse group of industries across the country,” said Andrew Trigg, Managing Director, Graycliff Partners. “ISCC has provided exceptional service to its expanding list of customers, and now, Iron Mountain will carry on that legacy of meeting the information needs of our customers.”
“Graycliff worked closely with the management team to grow its competitive position through investments in operations and customer relationships,” said Duke Punhong, Principal, Graycliff Partners.
“Graycliff has been a great partner in facilitating the growth and expansion of ISCC by providing the necessary resources and operational and strategic planning expertise,” said Ron Harper, CEO of ISCC. “With the full backing of Graycliff Partners, ISCC has demonstrated significant growth, market share gains and customer satisfaction. We are excited about sale of our records management businesses to Iron Mountain. Our customers can continue to expect secure storage, attentive service and expert advice.”
About Graycliff Partners LP
Graycliff Partners is an independent investment firm focusing on lower middle market private equity and mezzanine investments in the United States and Latin America. Graycliff Partners LP is an SEC-registered investment advisor under the US Investment Advisors Act of 1940, as amended. Since 1991, the Graycliff Partners team, previously operating as HSBC Capital, has invested over $1 billion and completed over 80 transactions. With offices in New York and São Paulo, Graycliff Partners seeks to partner with companies led by strong, entrepreneurial management teams, providing capital for acquisitions, management buyouts, recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.