WillScot Mobile Mini Acquires Three Leading Regional Storage Services Companies

Rhea-AI Summary

WillScot Mobile Mini Holdings Corp. (WSC) has completed acquisitions of American Mobile Leasing, Equipe Container Services, and Saf-T-Box, enhancing its modular space and portable storage portfolio. These transactions add approximately 11,000 storage units across the U.S., funded with cash and credit. CEO Brad Soultz emphasized the strategic fit and seamless integration of these companies, positioning WillScot for further growth in key markets. The acquisitions reflect the company’s commitment to organic and inorganic growth, aiming to amplify returns through technology and operational best practices.

Positive

• Acquisition of 11,000 storage units enhances market presence.
• Strategic fit with existing operations in key U.S. markets.
• Seamless integration of new companies enhances service capabilities.
• Expected to drive revenue growth and operational efficiency.

Negative

• None.

PHOENIX, Sept. 20, 2021 (GLOBE NEWSWIRE) -- WillScot Mobile Mini Holdings Corp. (“WillScot Mobile Mini” or the “Company”) (Nasdaq: WSC), a North American leader in modular space and portable storage solutions, today announced that it closed the acquisitions of American Mobile Leasing, Inc., Equipe Container Services, Inc. d/b/a Moveable Container Storage (MCS), and Saf-T-Box, LP. The transactions were funded with cash on hand and borrowings under the Company’s revolving credit agreement. Combined, these acquisitions add about 11,000 storage units in the Company’s existing U.S. markets.

Brad Soultz, Chief Executive Officer, commented, “We are excited to welcome the employees of American Mobile Leasing, Equipe, and Saf-T-Box to the WillScot Mobile Mini family. Each company is a highly respected peer and strengthens our position in key markets across the United States. These acquisitions are consistent with our growth strategy, allowing us to extend our ‘Ready to Work’ value proposition to new customers and further expand our industry leading fleet availability and service capabilities. They also highlight the scalability of our technology platform, which allowed us to integrate seamlessly this morning and provided employees and customers access to our systems on day one post-closing. We will continue to make smart organic and inorganic investments in our business, while applying technology and our commercial and operational best practices to amplify returns. Again, welcome to our new team members. I look forward to their contributions as we collaborate together on the exciting opportunities ahead.”

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/A for the year ended December 31, 2020), 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 approximately 270 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 companies did WillScot Mobile Mini acquire on September 20, 2021?

WillScot Mobile Mini acquired American Mobile Leasing, Equipe Container Services, and Saf-T-Box.

How many storage units did WillScot Mobile Mini gain from its recent acquisitions?

The recent acquisitions added approximately 11,000 storage units.

What is the strategic importance of these acquisitions for WSC?

These acquisitions strengthen WSC's position in key U.S. markets and expand its service capabilities.

How were the acquisitions of American Mobile Leasing and others financed?

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

What benefits are expected from the acquisition of new companies by WillScot Mobile Mini?

The acquisitions are expected to enhance revenue growth and operational efficiency through improved service capabilities.