Iron Mountain $2.1 billion acquisition of Recall Holdings

Overview:

• Storage and information management company Iron Mountain has completed its $2.1 billion acquisition of Australia-based Recall Holdings.
• As a regulatory precondition of the deal, Iron Mountain divested assets across 15 different US metropolitan markets before the transaction's finish.
• For the acquisition finance, Iron Mountain incorporated a A$250 million Australian dollar syndicated Term Loan B facility for this transaction. It is the first ever Australian dollar denominated and Australian law governed Term Loan B (TLB) facility.
• Intermediate Capital Group (ICG) led the lending syndicate. Barclays Bank, Credit Agricole Securities (USA) and HSBC Bank Australia were the joint lead arrangers and bookrunners for the loan.
• Allens (Tim Stewart, Katrina Huang, Lily Zhang) advised Iron Mountain.
• Weil Gotshal & Manges (Michael Aiello, Frank Martire, Frank Adams) and Minter Ellison (Costas Condoleon, Ben Smith) advised Iron Mountain.
• Sidley Austin (Paul Choi, Michael Heinz) and Allens advised Recall.
• Herbert Smith Freehills represented the Recall board of directors.
• Hogan Lovells (Richard Hayes, Scott Harris, Lisa Mazor) acted for Intermediate Capital Group as lender in the acquisition finance.
• Clifford Chance (Richard Gordon, Alastair Gourlay) advised Barclays as arranger in the acquisition finance.

Kurt Stumpo - Journalist - North America and the Caribbean

Wai Yee Tsang - Asia Pacific Reporter