Sale to Iron Mountain

Technology & Services
Sale to Iron Mountain


Baird served as the exclusive financial advisor to Cornerstone Records Management


Cornerstone Records Management, LLC (“Cornerstone” or the “Company”), a portfolio company of Sterling Partners (“Sterling”), was recently acquired by Iron Mountain Inc. (“Iron Mountain”) (NYSE: IRM) for approximately $191 million.

Cornerstone is a full solution records and information management (RIM) partner that helps customers achieve their operating and compliance objectives in a flexible and responsive manner. Serving a broad customer base, the Company provides a wide range of services including the storage and management of hard copy records, plant-based and mobile document destruction services, electronic media vaulting and digital imaging. Cornerstone is headquartered in Elkridge, Maryland.

Founded in 1983, Sterling Partners is a private equity firm that has invested billions of dollars of growth capital in small and mid-market companies in the education, healthcare and business services sectors. Sterling provides valuable support to the management teams of the companies in which the firm invests through a deep and dedicated team of operations and functional experts based in the firm’s offices in Chicago, Baltimore and Miami.

Iron Mountain is a leading provider of storage and information management solutions. Iron Mountain’s real estate network of over 64 million square feet across more than 1,000 facilities in 35 countries allows it to serve customers around the world. Its solutions for records management, data backup and recovery, document management and secure shredding help organizations to lower storage costs, comply with regulations, recover from disaster and better use their information for business advantage. Founded in 1951, Iron Mountain is headquartered in Boston, Massachusetts.

For additional information about this transaction, please contact:

Chris Hildreth 312-609-4937
Brian Doyal 312-609-4916
Jeff Seaman 312-609-4687
Jordan Klein 312-609-4978
Jonathan Harrison +44 (0) 207-667-8414
Technology & Services
Sale to Iron Mountain
October 2013
Cornerstone Records Management
Technology & Services
Target Location
North America
Acquiror Location
North America