An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
McGrath RentCorp (MGRC) has acquired the assets of Titan Storage Containers, LLC, a regional provider of portable storage solutions in Texas. This acquisition adds approximately 1,100 assets to McGrath's Mobile Modular division fleet in the region. The transaction was financed through borrowings from McGrath's revolving credit facility. CEO Joe Hanna noted that this acquisition aligns with their capital deployment strategy and will enhance their service capabilities and market share in Texas.
Positive
Acquisition of 1,100 assets enhances Mobile Modular division's fleet in Texas.
Expected seamless integration with technology systems.
Opportunity to grow regional market share.
Negative
Transaction financed through borrowings may increase financial leverage.
LIVERMORE, Calif.--(BUSINESS WIRE)--
McGrath RentCorp today announced it has acquired the assets of Titan Storage Containers, LLC, a regional provider of portable storage solutions in the Texas market. The transaction was funded with borrowings from McGrath RentCorp’s revolving credit facility. The acquisition adds approximately 1,100 assets to its existing Mobile Modular division fleet located in the Texas region.
“Our acquisition of Titan Storage Containers is highly complementary to our portable storage rental business.” said Joe Hanna, President and CEO of McGrath RentCorp. “Consistent with our ongoing capital deployment strategy, this opportunity provides us with additional high-quality fleet to serve the Texas market. We look forward to continuing to grow our expanded regional market share and to offering our renowned service to a new set of customers. We expect to integrate the assets into our technology systems quickly and seamlessly as we expand our operational capacity in the region.”
ABOUT MCGRATH RENTCORP
Founded in 1979, McGrath RentCorp (Nasdaq: MGRC) is a diversified business-to-business rental company providing modular buildings, electronic test equipment, portable storage and tank containment solutions across the United States and other select North American regions. The Company’s rental operations consist of four divisions: Mobile Modular rents and sells modular buildings to fulfill customers’ temporary and permanent classroom and office space needs; TRS-RenTelco rents and sells electronic test equipment; Adler Tank Rentals rents and sells containment solutions for hazardous and nonhazardous liquids and solids; and Mobile Modular Portable Storage provides portable storage rental solutions. For more information on McGrath RentCorp and its operating units, please visit our websites:
