Iron Mountain Seeing Growth in Core and New Business Areas

Bill Meaney, president and CEO of Iron Mountain Inc. (NYSE: IRM), joined Nareit for a video interview at Nareit’s 2018 CEO Forum & Advocacy Day in Washington, D.C.

Meaney provided an overview of operations, noting that Iron Mountain’s core hard document storage business continues to grow in virtually every market, both mature and emerging.

At the same time, the company is seeing growth in new areas of operation, including fine art storage and records storage for the federal government.

Looking to the company’s 2020 strategic plan, Meaney highlighted the focus on keeping developed markets healthy, and becoming more active in emerging markets in addition to entering adjacent markets. Iron Mountain is targeting organic EBITDA growth of more than 5 percent by 2020, Meaney noted.

Meaney also commented on the impact of recent tax reform legislation and how the company’s presence in 53 countries is impacted by the global aspects of the new law.

Turning to Iron Mountain’s data center business, Meaney said that the company’s existing presence in information management meant that this was a natural place to grow.

As for additional avenues for growth, Meaney highlighted the company’s activity in the green power arena. Iron Mountain is also expanding into cybersecurity. Its Iron Cloud business provides a deep digital storage repository for companies that want “super security at a very low cost,” he explained.

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