Wisetek, founded by Sean Sheehan in 2007, specialise in IT asset disposal, destruction, and refurbishment. 

Iron Mountain's filing states that it acquired Wisetek for a cash consideration of approximately €46.6m subject to adjustments and up to €4.2m of additional payment based on the achievement of certain gross profit targets through to September 2026.

The deal, first reported in the Irish Examiner in September is one of the largest acquisitions of an Irish firm this year by value. 

The company has grown exponentially since expanding its international footprint to include facilities in Ireland, the UK, the USA, the Middle East, and Thailand. 

Wisetek employs approximately 400 people worldwide and holds a number of blue-chip customers including Dell, Google, Viacom CBS, and PFH. 

EY carried out the vendor due diligence with XMS acting as financial advisors. 

In 2021, the company launched an e-commerce business selling high-quality refurbished IT equipment and accessories including laptops, phones, tablets, and keyboards. 

Its most recent accounts reported year-on-year growth in gross profits for 2023. Profit before taxation amounted to €1.2m.

"This strategic move and Wisetek’s expertise strengthens our ability to deliver innovative solutions for our customers. We look forward to working with and learning from the Wisetek team as our integration gets under way," Iron Mountain told the Irish Examiner in a statement.

Iron Mountain is listed on the New York Stock Exchange with a current market cap of $35bn (€32.7bn). 

It specialises in records management, information destruction and data backup.

Last year, the company reported a turnover of $5.5bn (€5.1bn). 

In January, it acquired a US asset disposal firm, Regency Technologies for $200m.