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Iron Mountain Incorporated is a global leader in storage and information management services, offering a wide range of solutions to over 225,000 clients worldwide . The company operates through two primary segments: the Global Records and Information Management (Global RIM) Business and the Global Data Center Business, providing both physical and digital storage solutions . Iron Mountain's offerings include records management, data management, secure shredding, and enterprise-class data center facilities, with a strong focus on cross-selling opportunities among its diverse customer base .
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Global Records and Information Management (Global RIM) Business - Offers comprehensive storage and management services for physical records, data management, and secure shredding, along with entertainment services and consumer storage solutions.
- Records Management - Involves storing physical records and providing related services.
- Data Management - Provides solutions for managing and protecting digital data.
- Secure Shredding - Offers secure destruction of sensitive documents and materials.
- Entertainment Services - Manages and stores media content for the entertainment industry.
- Consumer Storage - Provides storage solutions for individual consumers.
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Global Data Center Business - Delivers enterprise-class data center facilities and hyperscale-ready capacity, supporting the growing demand for digital infrastructure.
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Global Digital Solutions - Focuses on digital transformation services, helping clients transition from physical to digital storage and management.
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Asset Lifecycle Management (ALM) - Provides services for managing the lifecycle of IT assets, from acquisition to disposal, with a focus on sustainability and efficiency.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
William L. Meaney ExecutiveBoard | President and Chief Executive Officer | None | William L. Meaney has been the CEO of IRM since 2013, leading initiatives like Project Matterhorn and driving record financial performance. | View Report → |
Barry Hytinen Executive | Executive Vice President and Chief Financial Officer | None | Barry Hytinen joined IRM in 2020 as CFO, overseeing financial strategy. Previously held CFO roles at Hanesbrands and Tempur Sealy. | |
Deborah Marson Executive | Executive Vice President, General Counsel, and Secretary | None | Deborah Marson has been with IRM since 2009, serving as General Counsel since 2016 and contributing to legal and governance strategies. | |
Edward E. Greene Executive | Executive Vice President and Chief Human Resources Officer | Advisory Board Member of Eastern Bankshares, Inc. | Edward Greene joined IRM in 2020, bringing extensive HR leadership experience, including as CHRO at FactSet Research Systems. | |
Greg McIntosh Executive | Executive Vice President, Chief Commercial Officer, and General Manager, Global Records and Information Management | None | Greg McIntosh joined IRM in 2014 and has held multiple leadership roles, including EVP of Strategic Accounts and Chief Commercial Officer. | |
Mark Kidd Executive | Executive Vice President and General Manager, Data Centers and Asset Lifecycle Management | None | Mark Kidd has been with IRM since 2003, leading the data center business since 2013 and driving its growth and expansion. | |
Andre Maciel Board | Director | Global Chief Financial Officer at The Kraft Heinz Company | Andre Maciel joined IRM's board in 2024, bringing extensive international finance and digital transformation expertise from his roles at Kraft Heinz and AB InBev. | |
Clarke H. Bailey Board | Director | None | Clarke Bailey has been a director at IRM since 1998, with deep industry knowledge from his leadership at Arcus Data Security. | |
Doyle R. Simons Board | Director | Board Member at Fiserv, Inc. and Union Pacific Corporation | Doyle Simons has been a director at IRM since 2020, with leadership experience as CEO of Weyerhaeuser and Temple-Inland. | |
Jennifer Allerton Board | Director | Board Member at Sandvik AB and Barclays Bank Ireland | Jennifer Allerton has been a director at IRM since 2014, bringing expertise in IT and digital transformation. | |
June Yee Felix Board | Director | Board Member at RELX PLC and Advisory Board Member of the London Technology Club | June Yee Felix joined IRM's board in 2025, with leadership experience as CEO of IG Group and expertise in fintech and technology. | |
Kent P. Dauten Board | Director | Chairman of Keystone Capital, Inc. | Kent Dauten has been a director at IRM since 1997, bringing extensive investment and governance expertise. | |
Monte Ford Board | Director | Board Member at Akamai Technologies, JetBlue Airways, and Centene Corporation | Monte Ford has been a director at IRM since 2018, with expertise in IT and digital transformation. | |
Pamela M. Arway Board | Director | Board Member at The Hershey Company and DaVita Inc. | Pamela Arway has been a director at IRM since 2014, leveraging her global leadership experience from American Express. | |
Robin L. Matlock Board | Director | Board Member at MSCI, Cohesity, People.ai, and Dremio Corporation | Robin Matlock has been a director at IRM since 2019, bringing extensive marketing and technology leadership experience from VMware. | |
Theodore R. Samuels Board | Director | Lead Independent Director at Bristol-Myers Squibb and Board Member at Centene Corporation | Theodore Samuels joined IRM's board in 2023, bringing over 35 years of capital markets and investment expertise from his career at Capital Group. | |
Walter C. Rakowich Board | Director | Board Member at Host Hotels & Resorts, Inc. and Ventas, Inc. | Walter Rakowich has been a director at IRM since 2013, with extensive REIT and financial expertise from his leadership at Prologis. | |
Wendy J. Murdock Board | Director | Board Member at USAA Federal Savings Bank and La Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec | Wendy Murdock has been a director at IRM since 2016, with expertise in finance and international business from her tenure at MasterCard. |
- Given the significant capital investments in data centers and the limited sequential revenue growth in that segment this quarter, can you provide more details on when these investments will translate into meaningful revenue growth?
- With current annualized revenues in Asset Lifecycle Management around $400 million, how confident are you in achieving your target of $900 million by 2026, and what strategies will you employ to bridge this significant gap?
- Despite outperforming your projections and achieving record results, you've only adjusted your full year 2024 guidance to the high end of the previous range. Can you explain why the guidance wasn't raised further, especially with continued FX headwinds? ,
- Considering the increased capital expenditures approaching $1.8 billion primarily for data centers, how are you assessing the risks of overbuilding capacity, and what measures are in place to ensure these investments yield the expected returns? ,
- Can you elaborate on the profitability and revenue contribution of your InSight Digital Experience (DXP) platform, especially given initial strategies focused on cross-selling rather than direct monetization? ,
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Web Werks India Private Limited (Tranche II) | 2025 | Planned acquisition requiring a payment of approximately 9,600 million INR ($112.2M) to acquire a remaining 28.06% interest, with an additional 1,000 million INR potential incremental payment if targets are met, scheduled for March 2025 and recorded as accrued liabilities. |
Regency Technologies | 2024 | Completed acquisition on January 3, 2024 for an initial purchase price of $200M (with $125M at closing and $75M due in January 2025) plus a contingent performance-based earnout (preliminarily valued at $78.4M), intended to expand Iron Mountain’s Asset Lifecycle Management business. |
Web Werks India Private Limited (additional interest) | 2024 | Completed/planned deal to acquire a remaining 36.61% interest in the Web Werks JV, including a Tranche I purchase of 8.55% for ~3,000 million INR and a Tranche II scheduled for March 2025 (with an incremental payment clause), with related liabilities recorded under accrued expenses. |
Web Werks JV | 2023 | Completed acquisition where Iron Mountain’s final investment of approximately 3,750 million INR ($45.3M) on July 7, 2023 increased its ownership to 63.39%, consolidating the JV’s financials within its Global Data Center Business and recognizing noncontrolling interests. |
Clutter | 2023 | Completed acquisition on June 29, 2023 for about $59.1M to expand its on-demand consumer storage business, which included a remeasurement loss of $38M on a previously held 27% interest and later partial equity divestiture for $7.5M in October 2023. |
ITRenew | 2022 | Completed acquisition on January 25, 2022 for an 80% interest with a net purchase price of $718.1M (after adjustments and cash on hand) and options to acquire the remaining 20% for contingent future payments up to $531M, aimed at expanding its Asset Lifecycle Management operations. |
Records Management Company | 2022 | Completed acquisition for approximately $11M (including $4.6M in deferred obligations) to enhance operations in Morocco and support fine arts operations in China - Hong Kong S.A.R. and North America. |
Fine Arts Company (China - Hong Kong S.A.R.) | 2022 | Completed acquisition executed as part of a combined deal with deferred payments, aimed at enhancing operations in China - Hong Kong S.A.R. and North America, with a total deal value around $11M. |
Fine Arts Company (North America) | 2022 | Completed acquisition intended to expand Iron Mountain’s fine arts operations in North America by integrating the business into its Corporate and Other segment, for a total consideration of approximately $11M including deferred obligations. |
Recent press releases and 8-K filings for IRM.
- Achieved record Q1 2025 performance with quarterly revenue of $1.6 billion (approx 8% growth , 7.8% YoY , 9.4% growth excluding foreign currency ) and record Adjusted EBITDA of $580 million (12% increase) .
- Delivered strong performance across core segments, notably in Asset Life Cycle Management with a 44% revenue increase (22% organic growth) driven by acquisitions like Premier Surplus .
- Demonstrated robust operating results with AFFO of $348 million, net income of $16 million, and AFFO per share of $1.17, reflecting effective revenue management .
- Updated full-year 2025 guidance with revenue raised to $6.74–$6.89 billion and Adjusted EBITDA to $2.505–$2.555 billion, with additional increases in AFFO metrics .
- Declared a quarterly dividend of $0.785 per share .