LIVERMORE and PALO ALTO, CA—Access Information Management, a leading provider of records management storage and destruction services for hardcopy and electronic records, announced that it has received a growth equity investment from Summit Partners. The investment will fund the continued growth of Access' records and information management (RIM) service operations throughout the United States.
Founded in 2004 by Dennis Barnedt with the backing of Housatonic Partners, Access provides end-to-end RIM lifecycle services including offsite records storage, secure document shredding, climate controlled media vaulting, digital imaging and electronic records hosting. Access has more than 10,000 clients across many industries including healthcare, legal, financial services and manufacturing. Clients use Access’ services to mitigate the legal risks and financial penalties associated with records management and disposition. Access' services support compliance with industry and government regulations such as the Health Insurance Portability and Accountability Act of 1996 (HIPAA); Sarbanes Oxley (SOX); the Gramm-Leach-Bliley Act (GLBA), which requires financial institutions to explain their information-sharing practices and safeguard sensitive customer data; and the Fair and Accurate Credit Transactions Act (FACTA) with provisions designed to protect consumers against identity theft.
With roots in the San Francisco Bay Area, Access has expanded geographically through the organic addition of new client relationships as well as strategic acquisitions. Current Access locations include facilities in Northern and Southern California, Arizona, Florida, Georgia, Hawaii, Oregon and Wisconsin. Access is one of the fastest growing organizations in the RIM industry and was named to the Inc. 5000 list of America’s fastest-growing private companies for three consecutive years, from 2009 through 2011.
"Access is excited to announce our growth equity relationship with Summit Partners," said Rob Alston, Access’ Chief Executive Officer. "This investment will strengthen our ability to expand the company’s geographic service reach, enhance our service offering and grow the business in support of client needs.”
“Access will continue to search for and identify strategic acquisition opportunities with select RIM organizations throughout North America,” added John Chendo, Access' President. “This will further position Access to provide premier customer service to its growing client base.”
C.J. Fitzgerald, a Managing Director of Summit Partners who will join the Access Board of Directors, said, “Access Information Management has created a unique position in the records and information management services sector. We are pleased to invest in Access and look forward to working closely with Rob, John and the entire management team to support the company’s continued rapid growth.”
Len Ferrington, a Principal with Summit Partners who will also join the Access Board, added, “Summit Partners has been investing in profitable, innovative leaders in the business services industry for more than 27 years. We are very excited about the growth prospects of this exceptional company.”
Robert W. Baird & Co. served as exclusive financial advisor to Access in this transaction.
About Access Information Management
Access Information Management (www.accesscorp.com) is a leading records and information management (RIM) services provider and trusted partner to clients spanning multiple industries and geographies throughout the United States. Access offers a complete suite of RIM services including records management, data protection (electronic computer media), secure destruction, and Digital Access Solutions. Access services allow clients to focus on their core business while reducing the costs and risks associated with document retention, management and final disposition.
About Summit Partners
Summit Partners (www.summitpartners.com) is a growth equity investor that provides private equity and venture capital to rapidly growing companies. Founded in 1984, Summit has raised more than $11 billion in capital and has provided growth equity, recapitalization and management buyout financing to more than 330 growing companies across a range of industries and geographies. Summit Partners seeks outstanding management teams that have built their companies to market leadership. Summit’s notable business services investments include Bartlett Holdings, Central Security Group, EMED Co. and LiveOffice Holdings.
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners Limited, a firm authorized and regulated by the Financial Services Authority. Summit Partners Limited is a limited company registered in England and Wales with company number 4141197, and its registered office is at 20–22 Bedford Row, London, WC1R 4JS, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.