ABRY Partners Invests In Connecticut-Based ArchivesOne, Inc.

Waterbury, CT (April 6, 2005) - ArchivesOne, Inc. of Waterbury, CT, the third largest records management and document storage company in the U. S., announced today that it has raised $22 million of preferred equity from ABRY Partners, LLC, a Boston private equity firm, to fund future acquisitions and growth.

ArchivesOne has now raised approximately $86 million in senior debt, mezzanine debt, preferred equity and common equity to fund its growth” stated Scott Brabant, ArchivesOne’s Chief Financial Officer. “Expanding the capital structure to include ABRY will allow us to maintain our current pace for future growth of the company.” said Brabant. ABRY joins Banknorth, Inc of Portland, ME, Webster Bank of Waterbury, CT and HV Capital Investors, a Detroit mezzanine firm, as part of the capital structure. Equity investors, led by Housatonic Partners, a Boston based venture capital firm and current ArchivesOne common shareholder, and FARM Capital Services, have provided equity financing. “We now have the capital structure in place to confidently execute our growth strategy.” Brabant stated.

“Funding businesses seeking expansion capital is an important part of our overall investment strategy.” commented John Hunt, Partner at ABRY. “ArchivesOne fits nicely into our portfolio because the company enjoys predictable cash flow, high barriers to entry, high operating leverage and minimal customer churn.

ABRY Partners, based in Boston, is one of the oldest and largest private equity funds in North America investing primarily in media, entertainment and communications companies. ABRY has $3.0 billion of capital under management, and since 1989 has completed over $16.0 billion of leveraged acquisitions and other media sector private equity transactions.
ArchivesOne services customers in eleven metropolitan markets, has approximately $28 million in annual revenues and more than a million square feet of warehouse space. The company was recently named to Inc Magazine's 2004 national list of the 500 fastest growing private companies. Since its inception in 1991, ArchivesOne has grown substantially, the company now boasts over 4,500 customers and over 200 team members. For more information, visit the ArchivesOne website at www.archivesone.com.

Back to Current News