Iron Mountain completes acquisition of Regency Technologies

Iron Mountain, a Portsmouth, New Hampshire-based provider of information management, storage, data center infrastructure and asset lifecycle management, has completed its acquisition of information technology asset disposition (ITAD) services firm Regency Technologies, headquartered in Stow, Ohio. The transaction was announced in November of last year.

“The completion of this acquisition is a defining moment in Iron Mountain's growth story,” says Iron Mountain’s Mark Kidd, executive vice president and general manager, asset lifecycle management and data centers. “This is a strategic move that will propel us to the next frontier in Asset Lifecycle Management. The synergy between our two organizations will result in a wider network that provides our clients with faster services while significantly reducing environmental impact. We are thrilled to welcome everyone at Regency to the Iron Mountain team. Together, we are poised to redefine excellence in IT asset lifecycle management and disposition, offering a more comprehensive, secure and efficient solution to our valued clients.”

The purchase builds on Iron Mountain's extensive logistics network, which provides customers with information security in IT asset lifecycle management (ALM). The combined platform establishes a market leader in ITAD customer solutions, according to Iron Mountain, that will result in enhanced environmental sustainability and increased value recovery at the end of the IT asset lifecycle.

“This acquisition represents a pivotal step in our journey, reshaping the landscape of IT asset disposition and management," Regency Technologies CEO Jim Levine says. "We are excited to embark on this new chapter, leveraging the combined scale and expertise of both organizations to deliver unparalleled value to our clients. We remain dedicated to innovation, sustainability and customer-centricity as we forge ahead in the dynamic world of IT asset management.”

Regency Technologies has trailing four-quarter revenues in excess of $100 million. The initial purchase price is $200 million, with $125 million to be paid at close and the remainder due in 2025, which represents an approximate 7.5x multiple of earnings before interest, taxes, depreciation and amortization. The acquisition also features a potential performance-based earn-out, which would be payable in 2027, if earned.

Regency Technologies processes more than 55,000 tons of material annually, reselling more than 2 million units across its eight locations, which are in Stow; Austell, Georgia; Brooksville, Florida; Chicago; Grand Prairie, Texas; Olympia, Washington; Phoenix; and Durham, North Carolina. The company’s locations are R2, Recycling Industry Operating Standard (RIOS) and ISO 14001 certified and its clients include Fortune 500 corporations, government agencies, defense contractors and educational institutions.