WillScot Mobile Mini Acquires Blast Resistant Module Lease Portfolio

Rhea-AI Summary

WillScot Mobile Mini Holdings Corp. (WSC) announced the acquisition of a portfolio of blast resistant modules from Satellite Structures, Inc. The transaction was financed using available cash and credit facilities. CEO Brad Soultz emphasized that this acquisition enhances the company's safety and technical capabilities, positioning WSC as a preferred provider in modular solutions tailored for high-demand sectors such as industrial, petrochemical, and defense. The company aims to leverage this acquisition to expand its existing customer relationships and improve service reliability.

Positive

• Acquisition enhances offerings in blast resistant modules, tapping into high-demand sectors.
• Strengthens existing customer relationships in industrial and defense markets.
• Potential for revenue growth through expanded service capabilities.

Negative

• None.

PHOENIX, March 21, 2022 (GLOBE NEWSWIRE) -- WillScot Mobile Mini Holdings Corp. (“WillScot Mobile Mini” or the “Company”) (Nasdaq: WSC), the North American leader in modular space and portable storage solutions, today announced that it acquired a portfolio of blast resistant modules and related assets from Satellite Structures, Inc. The transaction was funded with cash on hand and borrowings under the Company’s revolving credit agreement.

Brad Soultz, Chief Executive Officer, commented, “As the leader in modular space and storage solutions, I am excited to build upon our industry leading safety culture and technical expertise to expand our offering of blast resistant modules, making WillScot Mobile Mini a provider of choice in this segment of the modular market. This transaction creates new opportunities to grow our offering with existing customers in the industrial, petrochemical, manufacturing, defense and other verticals that demand the highest standards for safety, service, reliability, and turnkey solutions, all of which WillScot Mobile Mini is uniquely positioned to deliver. Across all of our verticals, we bring the most sophisticated capabilities to the most demanding customers. We will continue to extend those capabilities through our acquisition strategy and the development of our ‘Ready to Work’ value proposition, as well as the application of technology and other commercial and organizational best practices.”

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. The words "estimates," "expects," "anticipates," "believes," "forecasts," "plans," "intends," "may," "will," "should," "shall," "outlook" and variations of these words and similar expressions identify forward-looking statements, which are generally not historical in nature. Certain of these forward-looking statements include statements relating value creation, the Company’s share price, and the Company’s future performance. Forward-looking statements are subject to a number of risks, uncertainties, assumptions and other important factors, many of which are outside our control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. These risks include, without limitation, the risks and uncertainties described in the periodic reports we file with the SEC from time to time (including our Form 10-K for the year ended December 31, 2021), which are available through the SEC’s EDGAR system at www.sec.gov and on our website. Any forward-looking statement speaks only at the date which it is made, and WillScot Mobile Mini disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About WillScot Mobile Mini Holdings Corp.

WillScot Mobile Mini Holdings trades on the Nasdaq stock exchange under the ticker symbol “WSC.” Headquartered in Phoenix, Arizona, the Company is a leading business services provider specializing in innovative flexible workspace and portable storage solutions. WillScot Mobile Mini services diverse end markets across all sectors of the economy from a network of over 275 branch locations and additional drop lots throughout the United States, Canada, Mexico, and the United Kingdom.

Contact Information

Investor Inquiries:

Nick Girardi

nick.girardi@willscotmobilemini.com

Media Inquiries:

Scott Junk

scott.junk@willscotmobilemini.com

FAQ

What did WillScot Mobile Mini announce on March 21, 2022?

WillScot Mobile Mini announced the acquisition of blast resistant modules and related assets from Satellite Structures, Inc.

How was the acquisition by WillScot Mobile Mini funded?

The acquisition was funded using cash on hand and borrowings under the company's revolving credit agreement.

What sectors will benefit from the acquisition of blast resistant modules?

The acquisition will enhance offerings in sectors such as industrial, petrochemical, manufacturing, and defense.

What is the significance of the acquisition for WillScot Mobile Mini's growth?

The acquisition is expected to create new opportunities for growth and improve service reliability for existing customers.