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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.
Kinderhook Industries announced an agreement to acquire 100% of Gulf Tanks Holdings, Inc. from WillScot Mobile Mini Holdings Corp. for $323 million. The deal, pending regulatory approval, is expected to close in Q3 2022 and marks Kinderhook's 79th transaction in the environmental services sector. Tank and Pump, based in Baytown, Texas, specializes in logistics for liquid and solid waste management, operating 24 branches and a fleet of 16,000 rental assets. Eric John will lead the new platform as CEO, focusing on growth through fleet investments and acquisitions.
WillScot Mobile Mini Holdings Corp. (WSC) has announced the divestiture of its Tank and Pump segment to Kinderhook Industries for approximately $323 million. The proceeds will support reinvestment in the core Modular and Storage sectors. The transaction, which is contingent on regulatory approval, is expected to close in Q3 2022. CEO Brad Soultz mentioned that the sale aligns with the company's strategy to focus on growth in its primary segments. Eric John will lead the newly independent Tank and Pump company under Kinderhook's ownership.
WillScot Mobile Mini Holdings (WSC) reported strong Q2 2022 results, with revenue of $582 million, net income of $73 million, and Adjusted EBITDA of $233 million. The company closed six acquisitions year-to-date, contributing to its growth strategy. Cash from operations reached $188 million, with a free cash flow margin of 12%. WSC raised its full-year 2022 Adjusted EBITDA outlook to $900-$940 million, reflecting a 22%-27% increase from 2021. The board authorized $1 billion in share repurchases, highlighting a commitment to returning value to shareholders.
WillScot Mobile Mini Holdings Corporation (Nasdaq: WSC) announced it will release its second quarter 2022 financial results on August 3, 2022, after market close. CEO Brad Soultz and CFO Tim Boswell will host a conference call on August 4, 2022, at 10 a.m. EDT to discuss the results. Investors can access the live call at (800) 715-9871, and a webcast will also be available on the company's website. WillScot specializes in flexible workspace and portable storage solutions with around 275 locations across the U.S., Canada, Mexico, and the UK.
WillScot Mobile Mini Holdings Corp. (WSC) has acquired Modulease Corporation's rental fleet and related assets, boosting its offerings in New England. The acquisition includes over 400 mobile offices and approximately 100 portable storage containers, enhancing its market position. The deal was financed using cash reserves and credit facilities. This strategic move aims to expand WillScot's service capabilities and revenue potential in the modular space and portable storage sector.
WillScot Mobile Mini Holdings Corp. (Nasdaq: WSC) announced that CEO Brad Soultz, CFO Tim Boswell, and Sr. Director Nick Girardi will participate in a fireside chat and host private investor meetings at the 2022 Stifel Cross Sector Insight Conference in Boston on June 8, 2022, at 4:45 p.m. EDT. As a leader in modular space and portable storage solutions, the company operates over 275 branch locations across North America, Mexico, and the UK, serving diverse markets with innovative services.
WillScot Mobile Mini Holdings (Nasdaq: WSC) announced that its CEO Brad Soultz, President & CFO Tim Boswell, and Sr. Director Nick Girardi will host private investor meetings at the 2022 Baird Global Consumer, Technology & Services Conference in New York City on June 7, 2022, at 1:25 p.m. EDT. The company, headquartered in Phoenix, specializes in modular space and portable storage solutions, serving diverse markets from over 275 locations across the U.S., Canada, Mexico, and the U.K.
WillScot Mobile Mini Holdings Corp. (Nasdaq: WSC) announced the acquisition of Elite Modular Leasing and Sales, Inc., enhancing its operations in California with approximately 900 new modular units. The deal was financed using cash and borrowings under its revolving credit agreement. CEO Brad Soultz stated that this acquisition strengthens the company's position in the public education sector and supports its growth strategy. The integration aims to provide a comprehensive offering to new customers as the company continues to expand its market presence.
WillScot Mobile Mini Holdings Corp. (Nasdaq: WSC) has acquired over 1,000 storage units and related assets from Georgia Storage Containers, Inc. The acquisition enhances WillScot's operations in the greater Atlanta market, funded through available cash and credit. CEO Brad Soultz highlighted the immediate benefits for new customers, offering access to innovative portable storage solutions and logistics capabilities, aimed at improving customer satisfaction and operational efficiency. This strategic move positions WillScot for potential growth in the competitive modular space and storage solutions market.
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