Graycliff Partners has sold its portfolio company, Information Storage Consolidation Company, to Iron Mountain.
Information Storage Consolidation Company (“ISCC”) is a provider of outsourced document services, including physical storage, storage services, destruction and imaging to customers in the healthcare, business services, financial and legal sectors. The company has three operating divisions: Safe Records Center (Lansing, MI); Archives USA (Dallas, TX); and The Document Bank (Miramar, FL). ISCC is headquartered in Carrollton, TX (www.isccllc.com).
“It has been a privilege to work with CEO Ron Harper and the ISCC management team in building a leading document storage business that services a diverse group of industries across the country,” said Andrew Trigg, Managing Director, Graycliff Partners. “ISCC has provided exceptional service to its expanding list of customers, and now, Iron Mountain will carry on that legacy of meeting the information needs of our customers.”
Graycliff Partners invests from $5 million to $25 million of equity and mezzanine capital in companies with revenues of at least $10 million and EBITDA margins of 10% or higher. Sectors of interest include manufacturing, services or distribution. Both control and minority investments are considered. The firm was formed in December 2011 by the former investment team of HSBC Capital. Graycliff Partners is headquartered in New York with an additional office in São Paulo (www.graycliffpartners.com).
“Graycliff has been a great partner in facilitating the growth and expansion of ISCC by providing the necessary resources and operational and strategic planning expertise,” said Ron Harper, CEO of ISCC. “With the full backing of Graycliff Partners, ISCC has demonstrated significant growth, market share gains and customer satisfaction.”
Iron Mountain (NYSE: IRM) provides records management, information destruction and data backup and recovery services to more than 156,000 customers throughout North America, Europe, Latin America and Asia. The company had revenues in 2012 of approximately $3 billion. Iron Mountain was founded in 1951 and is based in Boston (www.ironmountain.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-22-13