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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 that CEO Brad Soultz and CFO Tim Boswell will hold virtual investor meetings at D.A. Davidson’s Diversified Industrials & Services Conference on September 22, 2020. The company, a leader in modular space and portable storage solutions, provides services across various sectors, including construction and healthcare. With around 275 locations and a fleet exceeding 350,000 units, WillScot aims to enable efficient and cost-effective space solutions for its diverse customer base.
WillScot Mobile Mini Holdings (Nasdaq: WSC) announced that CEO Brad Soultz and CFO Tim Boswell will host virtual meetings with investors on September 15, 2020, during Morgan Stanley’s Virtual 8th Annual Laguna Conference. The meetings are by appointment only. WillScot is a leading provider of turnkey modular space and portable storage solutions in North America, formed in 2020 from a merger of two market leaders. The company operates across 275 locations with over 350,000 units available for lease across various sectors.
WillScot Mobile Mini Holdings Corp. (WSC) announced the pricing of $500 million in 4.625% senior secured notes due 2028. Proceeds will be used to redeem $441 million of its 6.875% senior secured notes due 2023. This follows a previous redemption of 10% of these notes. The offering is aimed at qualified institutional buyers and will close on August 25, 2020, pending customary conditions. The company may use any remaining funds for working capital or to repay part of WSII's existing credit facility.
WillScot Mobile Mini Holdings Corp. (WSC) announced a Conditional Redemption of its $441 million 6.875% senior secured notes due 2023, set for August 26, 2020. This follows a previous redemption of 10% of these notes. The redemption is contingent upon the issuance of at least $500 million in notes by WSII or its subsidiaries by the Redemption Date. Investors will receive a redemption price of 103.438% plus accrued interest. The company emphasizes the potential risks surrounding the future outcomes influenced by various external factors, including the COVID-19 pandemic.
WillScot Mobile Mini Holdings Corp. (Nasdaq: WSC) announced plans to offer $500 million in senior secured notes due 2028 through its subsidiary, Williams Scotsman International, Inc. The proceeds will be used to redeem $441 million of its existing 6.875% senior secured notes due 2023. This private placement is aimed at qualified institutional buyers and does not constitute an offer to sell securities within the U.S. The company highlights its position as a leader in modular space and portable storage solutions across North America.
WillScot Mobile Mini Holdings Corp (WSC) announced its Q2 2020 financial results, highlighting revenues of $256.9 million, a 2.6% decline year-over-year. Modular leasing revenue rose by 2.3%, while average rental rates increased by 9.5%. Adjusted EBITDA reached $97.5 million, an 11.4% increase, and free cash flow rose to $39.0 million. Mobile Mini's revenues fell 12%, but adjusted EBITDA margins improved to 42.6%. Both companies experienced sequential demand improvements from April 2020, with pending orders down 5% compared to the previous year.
WillScot Mobile Mini Holdings Corp. (Nasdaq: WSC) announced its indirect subsidiary, Williams Scotsman International, Inc., will redeem $49 million of its 6.875% Senior Secured Notes due 2023 on August 11, 2020. The redemption price is set at 103% of the principal amount, plus any accrued interest. Post-redemption, interest will cease to accrue on the notes. Investors holding these notes should contact their bank or broker for details regarding the redemption payment.
WillScot Mobile Mini Holdings (Nasdaq: WSC) plans to release its second quarter 2020 financial results on August 10, 2020, before market opening. A conference call with CEO Bradley Soultz, COO Kelly Williams, and CFO Timothy Boswell will follow at 10:00 a.m. EDT to discuss the results. Investors can access the live call by dialing (855) 312-9420 or via a webcast on the company’s website. WillScot, formed in 2020 through a merger, operates approximately 275 locations across North America and has a fleet of over 350,000 portable solutions.
WillScot Corporation has successfully completed its merger with Mobile Mini, creating WillScot Mobile Mini Holdings Corp., trading under the symbol WSC on Nasdaq starting July 2, 2020. This merger aims to enhance operational efficiency and shareholder value by combining complementary strengths in modular space and portable storage sectors.
The merger was supported by a new $2.4 billion credit facility and $650 million in senior secured notes, allowing for a strong liquidity position with approximately $900 million available. The new entity is positioned for growth amid a challenging economic backdrop.
On June 24, 2020, WillScot and Mobile Mini announced substantial approval from their stockholders for a merger that combines their rental service businesses. With over 95% of stockholder votes in favor, the merger is set to close on July 1, 2020, creating WillScot Mobile Mini Holdings Corp., which will trade on Nasdaq under the symbol WSC. This merger aims to enhance market presence, operational efficiency, and customer service across the U.S., U.K., and Canada, leveraging the significant rental fleets and established locations of both companies.
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