BOSTON—Berkshire Partners LLC, a Boston-based investment firm, today announced that it has acquired a majority interest in Access Information Management, the largest privately-held provider of records and information management services in North America, from Summit Partners. Terms of the transaction were not disclosed.
Access offers a complete suite of storage and related document management services, such as inventory management, digital access solutions, secure destruction and compliance services. Access has a presence in 31 U.S. markets and has a growing international business, serving primarily small and medium-sized enterprises (SMEs) within each of these markets.
Founded in 2004 by a team of experienced industry leaders, Access is recognized as one of the fastest growing and most dynamic companies in the records management industry. Since its founding, Access has grown through a combination of organic growth and a series of complementary acquisitions, which have expanded its presence to new markets and to a broader customer base within existing markets. Access now has an extensive footprint across the United States and a rapidly growing presence in Latin America.
The Access team is led by CEO Rob Alston and President John Chendo, two veterans of the records management industry. The Access team has built a well-respected and highly stable business with a robust pipeline of additional U.S. and international acquisition opportunities.
“We are excited to announce our partnership with Berkshire Partners,” said Rob Alston, Access’ Chief Executive Officer. “This investment will strengthen our ability to expand the company’s geographic reach, enhance our service offering and grow the business in support of client needs.”
Access’ President John Chendo added “Access will continue to search for and identify strategic acquisition opportunities with select records and information management service providers here in the U.S. and internationally, further bolstering our ability to provide premier service to our growing client base.”
“Access is well positioned within the attractive SME market,” said EJ Whelan, Managing Director of Berkshire Partners. “With significant opportunity in the United States as well as Latin America, the company is poised to continue its growth trajectory. We are excited to partner with the team during their next chapter of growth.”
Access has earned a reputation as an innovative company and has been able to attract some of the best team members in the industry. Access is considered a high-quality partner by its clients, a great place to work by its team members, a valuable contributor by the communities in which it operates and a consistent supporter of the records and information management industry and related trade organizations.
Robert W. Baird & Co. served as financial advisor and Weil, Gotshal & Manges LLP acted as legal counsel to Access Information Management. Ropes & Gray LLP served as legal counsel to Berkshire Partners.
About Access Information Management
Access is the largest privately held records and information management (RIM) services provider in North America. A trusted partner to clients spanning multiple industries and markets throughout the country, Access’ complete suite of services includes records storage and document management, data protection (electronic computer media), digital access solutions, secure destruction and compliance services. The valuable business services Access provides allow clients to focus on their core businesses while reducing the costs and risks associated with document retention, management and final disposition. For additional information, visit www.InformationProtected.com.
About Berkshire Partners
Berkshire Partners, the Boston-based investment firm, has invested in over 110 middle market companies since 1986 through eight private equity funds with aggregate capital commitments of over $11 billion. Berkshire has developed specific industry experience in several areas including consumer products and retail, business services, industrials, communications and transportation. Berkshire has a strong history of partnering with management teams to grow the companies in which it invests with the goal of consistently achieving superior investment returns. The firm is currently investing from Berkshire Fund VIII, a $4.5 billion fund raised in 2011. The firm seeks to invest $50 million to $500 million of equity capital in each portfolio company. For additional information, visit www.berkshirepartners.com.
About Summit Partners
Founded in 1984, Summit Partners is a growth equity firm that has raised more than $16 billion in capital. Summit has invested in more than 400 companies in business and financial services, technology, healthcare, and other growth sectors. These companies have completed more than 135 public offerings, and more than 150 have been acquired through strategic mergers and sales. Notable business services companies financed by Summit Partners include Bartlett, FleetCor Technologies, LiveOffice and PSC Info Group. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, visit www.summitpartners.com or follow on Twitter at @SummitPartners.
Source: Access Information Management