2-20 Records Management has announced the acquisition of InfoStore Records Management. This transaction expands the Service area of 2-20 into the Tri-State area of New York, New Jersey, and Connecticut. InfoStore offers document storage, data protection, and document shredding from their headquarters in Edison, New Jersey. Along with the Tri-State area the company provided service to businesses in Pennsylvania. Financial details of the deal were not disclosed.
2-20 Records Management is owned buy private equity group AUA Private Equity Partners. Prior to this acquisition they already owned records storage companies in Arizona, Florida, and California. Their goal is to expand to a nationwide coverage area. The company plans to currently market the company under the InfoStore brand.
This is another example of the capital that is flowing into the records information management (RIM) space over the last few years. The number of regional and national players is on the rise. The steady stream of revenue from boxes in storage is exactly the type of businesses that equity groups seek. In the end the goal is to boost revenues and then sell off the improved company. We have not seen a company come out the other side yet so it will be interesting to see it develop over the next few years.
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