Leo W. Pierce Sr., 93, founder in 1969 of what became Pierce Leahy Corp. of King of Prussia, one of the largest records-storage firms in the nation, died Saturday, July 14, at his home in Vero Beach, Fla., where he had lived since moving from Wynnewood in 1984.
“The notion of a paperless office is a fantasy – a dream that will never come true in our lifetime,” Mr. Pierce said in a 1984 Inquirer interview.
“If anything, automation has led to increased paper usage.”
A son, J. Peter Sr., said in a Thursday interview that “he was a great man. He created tremendous opportunities for many, many people,” both in his business and in his philanthropies.
“He always had a very strong belief that business is 90 percent people and 10 percent economics.”
The son is now chief executive officer of Pioneer Capital L.L.P., an asset-management and private-equity firm in Conshohocken.
In 1999, Iron Mountain Inc. of Boston announced the purchase of its largest rival, Pierce Leahy, for $1.2 billion in stock and assumed debt, The Inquirer reported.
Pierce Leahy today is an entity within Iron Mountain, without a presence in the region, his son said.
The two firms had been expanding by buying smaller rivals in the United States, where, it was reported, companies spent roughly $5 billion a year to store records.
The company became
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