ARCHIVESONE ACQUIRES ALBANY BUSINESS ARCHIVES OF NEW YORK

MIDDLEBURY, CT & ALBANY, NY/ MARCH 8, 2007 - ArchivesOne, Inc., the nation’s third-largest records management and storage company, today announced the acquisition of Albany Business Archives in Albany, New York, expanding its presence in this marketplace.

            ArchivesOne’s latest purchase marks its fourth acquisition of 2007, and its 34th since the Middlebury, CT company’s founding in 1991. Rapid growth through a series of acquisitions has sustained compound annual revenue growth at a brisk pace of 41% over a five-year period, boosting annual revenues to approximately $50 million currently.  ArchivesOne COO John Pavlovich noted the company continues to look for fresh acquisition opportunities.

            “This acquisition is a positive step in the growth strategy of ArchivesOne,” Pavlovich said. “This acquisition consolidates our position in the Albany market and provides a significant boost in market share and financial growth as we strive to achieve our goal of growing the company to $100 million in annual revenues.”

            “Our environment of operational excellence resonates with past and future acquisition candidates,” ArchivesOne CEO A.J. Wasserstein notes. “When owners of records management companies are selling their company, their primary concern is whether their customers will be well served and if their employees will be given an opportunity for learning and advancement.” 

            ArchivesOne has raised $125 million in debt and equity capital to support its growth program. CFO Scott Brabant observed the firm’s success in the capital markets has supported robust revenue gains and strong earnings performance, evidenced by EBITDA growth at a brisk 54% five-year compound annual pace. “With financing in place, we are able to expand ArchivesOne’s geographic footprint and further penetrate our current marketplaces,” Brabant said.

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