Iron Mountain Announces Australian Court Approval of Recall Acquisition

BOSTON--(BUSINESS WIRE)--

Iron Mountain Incorporated IRM, the storage and information management services company, today announced that the Federal Court of Australia has approved the proposed acquisition of Recall Holdings Limited ("Recall") by Iron Mountain pursuant to an Australian scheme of arrangement as contemplated in the Scheme Implementation Deed or the Transaction. The Transaction is expected to close (referred to as "implementation of the scheme" under Australian law), on May 2, 2016, Sydney time, as anticipated.

Pursuant to the terms of the Scheme Implementation Deed, Iron Mountain's board of directors has appointed Neil Chatfield, age 61, and Wendy Murdock, age 63, to serve as directors of Iron Mountain, effective upon the close of the Transaction.

In addition, in order to provide a portion of the financing in connection with the Transaction, Iron Mountain has entered into a commitment letter, dated April 19, 2016, with JPMorgan Chase Bank, N.A., as a lender and administrative agent, and the other lenders party thereto, or the Lenders, pursuant to which the Lenders have committed to provide to Iron Mountain an unsecured bridge term loan facility of up to $850,000,000, or the Bridge Facility.

Further details on the above matters as well as the timetable for the effective date of the Transaction through implementation can be found in an 8-K filed by Iron Mountain today, April 21, 2016.

About Iron Mountain
Iron Mountain Incorporated IRM is a leading provider of storage and information management services. The company's real estate network of more than 69 million square feet across more than 1,100 facilities in 37 countries allows it to serve customers around the world. And its solutions for records management, data management, document management, and secure shredding help organizations to lower storage costs, comply with regulations, recover from disaster, and better use their information. Founded in 1951, Iron Mountain stores and protects billions of information assets, including business documents, backup tapes, electronic files and medical data. Visit www.ironmountain.com for more information.

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