With sale of DataStore Inc., the company has surpassed the $400 million mark in aggregate deal value.
Pittsburgh-based K-2 Partners LLC
has announced its representation of the owner of DataStore Inc., with records management, data protection and imaging operations in Milwaukee and Madison, Wis., in the company’s sale to Boston-based Iron Mountain.
K-2, which provides mergers and acquisitions advisory services to sellers in the records and information management services (RIMS) industry, says it has closed 11 deals during 2012 and a total of 19 transactions since its founding in mid-2010. With this deal, K-2 says it also has surpassed the $400 million mark in aggregate deal value.
Ross Engelman, a partner in K-2, says, “Industry sellers who have utilized K-2’s services recognize the advantages gained from a professionally run and competitive sale process, leveraging K-2’s extensive industry knowledge, senior level contacts and deal experience that’s second to none.”
He adds, “Professional buyers also often comment positively on our involvement. They know that with us managing the process, there is objectivity, continuous focus and a greater likelihood of the deal proceeding to completion.”
According to K-2 Partners, its principals have played a role in more than 200 deals made during the past 25 years.
Bob Miller, a partner with K-2, says, “We continue to see strong interest in well-run businesses in all sectors of the RIMS industry. Strategic buyers appreciate the effort involved in developing a successful business, and that is reflected in the valuations that we have achieved for business owners. We have proven methodologies in improving an owners’ RIMS business to maximize its success and value. This is ever more important, given the maturing of the RIMS industry and inevitable commoditization, which will impact pricing, business profitability and, ultimately, business valuations.”