WillScot Mobile Mini acquisitions add 11,000 units
By Belinda Smart07 October 2021
WillScot Mobile Mini, the North American modular space and portable storage specialist, has acquired American Mobile Leasing, Équipe Container Services (also trading as Moveable Container Storage) and Saf-T-Box, LP.
Combined, the acquisitions, which were funded with cash and borrowings under the company’s revolving credit agreement, have added about 11,000 storage units to its offering in the US.
Équipe Container Services focuses on selling and renting used ISO shipping containers for land use and is based in San Rafael, California.
American Mobile Leasing is based in Lancaster, Ohio, and Saf-T-Box, located in Houston Texas, has been in the container manufacturing, modification, rental, and sales business for over 20 years.
Brad Soultz, Chief Executive Officer, said of the acquisitions that each company was “a highly respected peer and strengthens our position in key markets across the United States.”
“These acquisitions are consistent with our growth strategy, allowing us to extend our ‘Ready to Work’ value proposition to new customers and further expand our industry leading fleet availability and service capabilities.
The said the scalability WillScot Mobile Mini’s technology platform had allowed it to “integrate seamlessly” and provide new employees and customers access to our systems on day one post-closing.
“We will continue to make smart organic and inorganic investments in our business, while applying technology and our commercial and operational best practices to amplify returns.”
WillScot Mobile Mini has performed well recently, buoyed by the recovery of the events sector in North America.
Highlights of the company’s company’s second quarter 2021 results included total revenues of $461.1 million up 79.5% on $204.2 million the previous corresponding period, driven by the addition of Mobile Mini’s revenues to the results and by increased core leasing revenues in the NA Modular segment.
The Phoenix head-quartered, Nasdaq listed company assumed its current name following the merger on July 1, 2020, of Williams Scotsman with Mobile Mini to become WillScot Mobile Mini Holdings Corp.