Iron Mountain’s legacy Australian Business to operate as standalone entity, ZircoDATA
ACCC clears purchase of domestic business to run as going concern
Melbourne, 25 October, 2016 – Iron Mountain’s legacy business in Australia will operate as ZircoDATA Pty Ltd following approval by the Australian Competition and Consumer Commission for the purchase of the domestic records and information management business by a consortium of experienced industry investors – Housatonic Partners and Dennis E. Barnedt.
Under the terms of the purchase agreement, which is expected to close on 31 October 2016, the newly-branded ZircoDATA will operate as a standalone going concern, with the business’ existing team continuing to service the company’s national client base using its extensive network of systems and intellectual property. ZircoDATA has 18 facilities and a workforce of more than 300, and will continue to be led by Managing Director, Wes Gleeson.
ZircoDATA’s ownership comprises a combination of highly-experienced industry operators and sophisticated investors – including Mr Barnedt. In partnership with Housatonic Partners, Dennis is a key player in the global records and information management industry, having founded, acquired, managed and developed leading companies in the sector across the United States and Europe.
Mr Barnedt, who will relocate to Melbourne in his role as Executive Chairman of ZircoDATA, said the decision to purchase the majority of Iron Mountain’s legacy Australian operations was “driven by the opportunity to acquire an established, well run and profitable business with a reputation as a leader in the Australian market.”
Mr Gleeson said the team’s customer-focused approach was a key factor in its success and would continue while the business transitions to the new brand name.
“We’ll continue servicing our strong client base to the level to which they’re accustomed, while looking to drive further growth as a fresh name on the domestic landscape”, he said.
“We’re the same business, with the same great team and we’ve got the backing to keep building our suite of services for the benefit of our customers. In the meantime, we’re working through the process of introducing the ZircoDATA brand to the market, including our soon-to-be rebranded website and other assets”, said Mr Gleeson.
For further enquiries contact:
Jim Stiliadis, Six O’Clock Advisory
0414 534 703