Iron Mountain to acquire Regency Technologies for $200M

Iron Mountain announced it has entered into a definitive agreement to acquire Regency Technologies, a provider of IT asset disposition services in the United States. Building on Iron Mountain’s extensive logistics network, which already provides customers with leading information security in IT Asset Lifecycle Management, the combined platform will establish a market-leading distributed footprint for the remarketing and recycling of IT assets. This will result in enhanced environmental sustainability and increased value recovery at the end of the IT asset lifecycle. Regency Technologies has trailing four quarter revenues in excess of $100M. The initial purchase price is $200M, with $125M to be paid at close and the remainder due in 2025, which represents an approximate 7.5x multiple of EBITDA. The acquisition also features a potential performance-based earn-out, which would be payable in 2027, if earned. The transaction is subject to customary closing conditions.