Further expansion for Mobile Mini
By Helen Wright02 December 2014
Acquisitive US-based portable storage rental company Mobile Mini said it had completed the purchase of an unnamed portable storage business in Buffalo, New York, US, for an undisclosed price.
The newly acquired business was said to have a fleet of approximately 550 units at approximately 85% utilisation.
While further details were scarce, the deal was another example of the company’s expansion in 2014, following a string of similar investments.
In November, for instance, Mobile Mini acquired Texas-based specialty containment provider Evergreen Tank Solutions for US$450 million (€361 million), while September saw it acquire another unnamed portable storage business in Ft Wayne, Indiana, and a further unnamed portable storage business in Florida.
Commenting on the latest deal, Mobile Mini president and CEO Erik Olsson said, “We continue to execute on our growth strategy of creating long term value for shareholders by pairing internal revenue growth with strategic acquisitions of highly utilised assets on favourable terms.”
He added, “This acquisition allows us to open a new branch location in Buffalo with highly utilised rental assets,"