SYDNEY--(BUSINESS WIRE)--Recall Holdings Limited (ASX: REC), a global leader in document storage, digital information solutions, data protection and secure destruction services, today announced its expansion in a new European market through the acquisition of the document storage and management company Secur’ Archiv.
With locations in five major cities across Switzerland, Secur’ Archiv is the industry leader with a diverse customer base including finance, legal, insurance, professional services and retail clients. Integration is expected to commence immediately and will add US$14 million of annualized revenue and a total of 856,000 carton equivalents.
“The acquisition of Secur’ Archiv strengthens Recall’s geographic presence in the region by expanding operations across Switzerland. Through this acquisition, Recall will bring advanced information management solutions to companies in Switzerland and further support for Recall’s global customers,” said Doug Pertz, President and CEO of Recall.
Including Secur’ Archiv, Recall has completed six acquisitions during fiscal year 2016; one each in Brazil, France, New Zealand, Scotland, Switzerland and the U.S. The combined purchase price of all six acquisitions is approximately US$56 million, and on a post synergy basis, represents an EBITDA multiple of less than 7.0x. The acquisitions will generate annualized revenue of approximately US$28 million and add a total of 2.6 million carton equivalents. In FY16, these acquisitions are expected to add approximately US$19 million of revenue.
With regard to the pending transaction between Recall and Iron Mountain, both parties continue to work closely with required regulatory authorities around the world and continue to expect the transaction will close in the second quarter of 2016.
About Recall
Recall is a global leader in information management solutions, offering customers complete management of its physical and digital information assets with one partner. Recall’s innovative solutions empower organizations to make better business decisions throughout the information lifecycle, while maintaining regulatory compliance and eliminating unnecessary resources, time and costs. Recall services more than 80,000 customer accounts in over 300 dedicated operation centers, spanning five continents in 25 countries. For more information, please visit recall.com.
