3000 units added in WillScot Mobile Mini acquisition
01 December 2021
North American modular space and portable storage specialist WillScot Mobile Mini has acquired the assets of Los Angeles based Portable Storage Corporation.
The acquisition adds about 3,000 storage units in the Company’s existing U.S. markets in California.
The transaction, completed 22 November, was funded with cash on hand and borrowings under the company’s revolving credit agreement.
Brad Soultz, Chief Executive Officer, said, “Portable Storage Corporation’s operations expand our presence and capabilities in the greater Los Angeles area.
“Consistent with our M&A strategy, we look forward to providing our ‘Ready to Work’ value proposition to new customers, and applying our commercial and organizational best practices, while leveraging our scalable technology platform.”
WillScot Mobile Mini has made a number of acquisitions in recent times. The company’s second quarter 2021 results, announced earlier this year, showed it in recovery mode driven by growing demand in the events sector, following the Covid-19 crisis.