Iron Mountain Acquires ITRenew from ZMC
December 10, 2021
Iron Mountain Incorporated has agreed to acquire ITRenew Inc., a leading IT asset disposition and data center lifecycle management provider, from private equity owner ZMC. The deal closed with Iron Mountain purchasing 80% of ITRenew for approximately $725 million in cash (with the remaining 20% to be acquired within three years for a minimum enterprise value of $925 million), positioning ITRenew as Iron Mountain's platform for Global IT Asset Lifecycle Management and expanding the company's secure ITAD, decommissioning and sustainability capabilities for hyperscale and enterprise customers.
- Buyers
- Iron Mountain Incorporated
- Targets
- ITRenew Inc.
- Sellers
- ZMC
- Industry
- IT Services
- Location
- California, United States
- Transaction Type
- Buyout
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