Iron Mountain Inc.

NYSE:IRM   3:59:59 PM EDT
-0.62 (-1.40%)
Mergers / Acquisitions

Iron Mountain to Acquire ITRenew

Published: 12/10/2021 12:48 GMT
Iron Mountain Inc. (IRM) - Iron Mountain to Acquire Itrenew.
Iron Mountain Inc - Acquiring 80 Percent for $725 Million at Close.
Iron Mountain Inc - Iron Mountain Anticipates Acquisition Will Be Immediately Accretive to 2022 Affo.
Iron Mountain Inc - Acquire 80 Percent of Outstanding Shares of Itrenew on a Cash- and Debt-free Basis.
Iron Mountain Inc - Has Secured Financing Commitments.
Iron Mountain Inc - Remaining 20 Percent to Be Acquired Within Three Years of Close for a Minimum Enterprise Value of $925 Million.
Iron Mountain Inc - Expects to Fund Transaction Through a Combination of New Debt and Borrowing Capacity Under Its Current Revolver.
Iron Mountain Inc- Following Close of Transaction, Itrenew Will Form Platform for Iron Mountain's Global It Asset Lifecycle Management Business.
Iron Mountain Inc - Remaining 20% of Itrenew Will Be Acquired in Cash Within Three Years From Close, With a Minimum Payment of $200 Million.