Rob Alston, CEO of Access Information Management, headquartered in Livermore, Calif., has announced the company’s acquisition of Retrievex Inc., a records and information management (RIM) services provider headquartered in Conshohocken, Pa. Retrievex has operations in 15 U.S. markets and in Costa Rica.
The acquisition makes Access the largest privately held RIM services provider in the United States, with more than 17 million cubic feet of records under management. Alston adds that as a result of the merger, Access now has more than $100 million in annual revenue and serves 26 markets across the United States.
“We have contacted our top clients in every market, and they have been very excited,” Alstson says. “They can’t wait to take advantage of our new national footprint."
The transaction also represents Access’ entry into New England and a major expansion throughout both the Northeast and Midwest.
“The acquisition of Retrievex positions Access to lead our industry,” Alston says. “The companies’ shared commitment to outstanding service, our complementary footprints and the merged management team create a powerful combined entity.”
Peter Pierce, formerly of Pierce Leahy Archives, is founder, president and CEO of Retrievex. He also is enthusiastic about the merger. “The industry I have been part of for more than 40 years now has a new, strong and agile national player,” Pierce says. “Our clients will benefit significantly from Access’ broadened market presence and continually strengthening capabilities, including a full array of information management solutions, both paper-based and digital.”
Nate Campbell, chief operating officer at Access, will lead the integration of the two companies in conjunction with Retrievex COO W. Price Brannon, who will become chief information officer of Access.
The integration is expected to take up to six months, Campbell says, adding that much of the process will be completed within 60 to 90 days of the close of the acquisition. All of the acquired operations will use the Access name.
Campbell refers to the merger as a “combination of equals.” He adds, “Culturally, the companies match very well. Access and Retrievex share a commitment to responsive customer service, which will ensure a smooth transition for our clients and our prospects."
He continues, “In the near term, customers will be able to take advantage of expanded services in the digital space and utilize our combined best practices in managing image capture and digital hosting."
Three Ocean Partners LLC, New York, served as exclusive financial advisor to Retrievex during the process, and Chicago-based Kirkland & Ellis LLP served as legal counsel. Weil, Gotshal & Manges LLP, headquartered in New York, served as legal counsel to Access.
Access’ complete suite of services includes records management, data protection (electronic computer media), secure destruction and digital formatting services. The company is backed by growth equity investor Summit Partners, with offices in Palo Alto, Calif.; Boston, London and Mumbai.