Iron Mountain is proving its pivot: a defensive records-storage cash machine is increasingly funding a high-growth data center and asset lifecycle platform tied to AI-era infrastructure demand.
Overview
Iron Mountain is evolving from a defensive records-storage REIT into a hybrid information management and digital infrastructure platform. Its legacy physical storage business delivers highly predictable recurring cash flows, supported by 14.5-year average box duration and ~98% retention. These cash flows fund growth in data centers, digital services, and Asset Lifecycle Management. With 1,300 facilities across 61 countries and customers including 95% of the Fortune 1000, IRM combines resilience, scale, and cross-selling power.