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WillScot Mobile Mini Holdings Corp. (Nasdaq: WSC) is a prominent business services provider headquartered in Phoenix, Arizona. Specializing in innovative and flexible temporary space solutions, WillScot Mobile Mini combines over 50 years of experience with a diverse range of products to meet the needs of various industries.
The company operates primarily in two segments: Modular Solutions and Storage Solutions. The Modular Solutions segment, which generates the majority of the company's revenue, includes modular office complexes, mobile offices, classrooms, temporary restrooms, clearspan structures, and blast protective and climate-controlled units. In addition, their Storage Solutions segment offers portable storage containers, climate-controlled storage units, and a thoughtfully curated selection of furnishings, appliances, and other turnkey services.
WillScot Mobile Mini serves a wide array of markets, including construction, education, energy, industrial, commercial/retail, healthcare, and government sectors. The company boasts a robust network of approximately 240 branch locations and additional drop lots across the United States, Canada, and Mexico, allowing them to ensure timely and efficient service.
Recent achievements highlight the company's strong financial performance and strategic growth initiatives. In Q3 2023, WillScot Mobile Mini reported record Free Cash Flow of $148 million, driven by robust pricing and Value-Added Products (VAPS) penetration. The company also successfully reinvested $494 million in tuck-in acquisitions, enhancing its portfolio with North America's leading cold storage leasing platform and a premium large clearspan structures platform, positioning it for continued growth.
Moreover, WillScot Mobile Mini recently announced a definitive agreement to acquire McGrath RentCorp, a transaction expected to close in the second quarter of 2024. This acquisition aims to expand the company's geographic footprint and diversify its platform, thus providing enhanced value to more than 85,000 customers.
For further information, visit the company’s website at www.willscotmobilemini.com.
WillScot Mobile Mini Holdings Corp. (Nasdaq: WSC) announced a secondary offering of 21,410,019 shares, sold by Sapphire Holding S.à r.l., controlled by TDR Capital. The company itself is not selling any shares and will not receive proceeds. Additionally, it plans to repurchase 2,379,839 shares from the selling stockholder at the same price as the offering. This buyback will be funded through borrowings under its ABL Credit Facility and is expected to close concurrently with the offering.
WillScot Mobile Mini Holdings Corp. has promoted Tim Boswell to President, continuing his role as Chief Financial Officer, as part of a strategic leadership plan. The Board extended employment contracts for both CEO Brad Soultz and CFO Boswell through 2026, which include performance-based stock grants linked to share price milestones. The grants will vest if the share price reaches at least $42.50, aiming for a maximum of $60.00, representing potential significant gains over current prices.
WillScot Mobile Mini Holdings Corp. (WSC) reported second-quarter 2021 revenues of $461.1 million, a 79.5% increase year-over-year, primarily due to the merger with Mobile Mini. Adjusted EBITDA rose 80.0% to $175.5 million. The company generated $82.1 million in free cash flow, reflecting a margin of 18%. Modular space rental rates surged by 19.7% in North America. Management announced an Investor Day on November 8, 2021, focusing on showcasing post-merger growth initiatives and operational integration successes.
WillScot Mobile Mini Holdings Corporation (WSC) announced the release of its second quarter 2021 financial results on August 5, 2021, after market close. CEO Brad Soultz and CFO Tim Boswell will hold a conference call on August 6, 2021, at 10:00 a.m. EDT to discuss these results. Investors can join the call by dialing (855) 312-9420 for the US/Canada or (210) 874-7774 for international access. The call will also be webcast live on the company's website, with an archived version available for 60 days.
WillScot Mobile Mini Holdings Corp. (WSC) announced the pricing of a secondary offering of 14 million shares at $27.95 per share, offered by principal shareholder Sapphire Holding S.à r.l. The underwriter, Morgan Stanley, has an option to purchase an additional 2.1 million shares within 30 days. The company will not receive proceeds from this offering. Concurrently, WillScot will repurchase 3.9 million shares from Sapphire at the same price, funded by borrowings under its ABL Credit Facility. The offering is set to close on June 25, 2021.
WillScot Mobile Mini Holdings Corp. (Nasdaq: WSC) has announced a secondary offering of 14 million shares, primarily by Sapphire Holding S.à r.l., with a 30-day option for underwriters to purchase an additional 2.1 million shares. Notably, the company will not receive proceeds from this offering. Concurrently, WillScot plans to repurchase 3.9 million shares from Sapphire at the offering price, funded through its ABL Credit Facility. This repurchase aims to enhance shareholder value, signaling confidence in the company's future.
WillScot Mobile Mini Holdings Corp. (WSC) announced that CEO Brad Soultz and CFO Tim Boswell will present at the Stifel 2021 Virtual Cross Sector Insight Conference on June 9, 2021, at 12:00 p.m. EDT. The company, a leader in modular space and portable storage solutions, operates from 275 branch locations across North America, including the U.S., Canada, Mexico, and the U.K. WillScot Mobile Mini focuses on providing flexible workspace solutions to various sectors, highlighting its commitment to innovation and service delivery.
WillScot Mobile Mini Holdings Corp. (WSC) will present at the Baird 2021 Global Consumer, Technology & Services Conference on June 8, 2021, at 2:35 p.m. EDT. CEO Brad Soultz and CFO Tim Boswell will host private meetings during the event. The company, based in Phoenix, is a leader in turnkey modular space and portable storage solutions, operating around 275 branch locations across North America and the UK. WillScot is dedicated to innovative flexible workspace solutions serving various sectors of the economy.
WillScot Mobile Mini Holdings Corp. (Nasdaq: WSC) announced the redemption of $58.5 million in 6.125% Senior Secured Notes due 2025 on June 16, 2021. The redemption price will be 103% of the principal amount plus accrued interest. This move is part of the company's financial strategy, aimed at improving its capital structure. Investors should reach out to their brokers for details on the redemption payment. Forward-looking statements in the release highlight potential risks and uncertainties affecting future results.
WillScot Mobile Mini Holdings (WSC) announced that CEO Brad Soultz will participate in a fireside chat at the Morgan Stanley Infrastructure Symposium on May 24, 2021, from 2:15 to 3:00 p.m. EDT. WillScot Mobile Mini is a leader in turnkey modular space and portable storage solutions, operating approximately 275 branch locations across the U.S., Canada, Mexico, and the U.K. The company specializes in innovative flexible workspaces and portable storage, catering to various market sectors.
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