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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 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.
On June 15, 2020, WillScot Corporation (Nasdaq: WSC) announced the completion of a $650 million offering of 6.125% senior secured notes due 2025. The funds will be utilized alongside a $2.4 billion ABL credit facility to refinance debt related to the upcoming merger with Mobile Mini. This includes paying off existing ABL facilities and redeeming senior notes. The notes, sold to qualified institutional buyers, will be subject to a mandatory redemption if the merger does not close by a specified date.
WillScot Corporation (WSC) has announced the pricing of its offering of $650 million in 6.125% senior secured notes due 2025, increased from a previous offering of $500 million. The proceeds will be used for refinancing existing debt related to the proposed merger with Mobile Mini, which includes repaying outstanding debts under various secured facilities. The notes are offered in a private placement and are expected to close on June 15, 2020. Investors are advised to consider the risks associated with the offering as detailed in the prospectus and related documents.
WillScot Corporation (Nasdaq: WSC) announced that its subsidiary, Williams Scotsman International, Inc., will conditionally redeem all $270 million of its 7.875% Senior Secured Notes on July 1, 2020. This redemption is contingent upon the successful issuance of at least $500 million in new notes and the completion of the merger with Mobile Mini, Inc. The redemption price will be 103.938% of the principal amount, plus accrued interest to the redemption date. Investors are advised to contact their brokers for details on the redemption payment.
WillScot Corporation (Nasdaq: WSC), a leader in specialty rental services, has announced that its President and CEO, Brad Soultz, along with CFO Tim Boswell, will attend Deutsche Bank's 2020 Global Industrials & Materials Summit on June 8, 2020. The virtual meetings with investors are by appointment only. WillScot provides modular space and portable storage solutions across North America, serving diverse sectors like construction, healthcare, and government. With over 150,000 units and around 120 locations in the U.S., Canada, and Mexico, WillScot is a trusted partner in the industry.
WillScot Corporation (WSC) announced plans to offer up to $500 million in senior secured notes due 2025 through its subsidiary, Picasso Finance Sub Inc. The proceeds will be utilized to repay existing debts related to a merger with Mobile Mini and to cover associated fees. This offering is part of a larger strategy that involves a $2.4 billion ABL credit facility. If the merger is not completed by a specific date, the notes may require mandatory redemption. This press release contains forward-looking statements about the potential impacts of the merger.
WillScot Corporation (Nasdaq: WSC) announces participation in Baird’s 2020 Virtual Global Consumer, Technology & Services Conference on June 2, 2020. CEO Brad Soultz and CFO Tim Boswell will present and hold private meetings, with the presentation scheduled for 10:15 a.m. EDT. As a leader in modular space and portable storage solutions in North America, WillScot operates about 120 locations and boasts a fleet of approximately 150,000 units, serving diverse sectors including construction, education, and healthcare.
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