McGrath RentCorp acquires Titan storage
24 January 2022
US company McGrath RentCorp has acquired Titan Storage Containers, a regional provider of portable storage in the Texas market, adding 1,100 units to its existing Mobile Modular division fleet located in the Texas region.
A building from McGrath RentCorp’s Mobile Modular division.
The transaction, for an undisclosed sum, was funded with borrowings from McGrath RentCorp’s revolving credit facility.
Joe Hanna, President and CEO of McGrath RentCorp, described the acquisition as “highly complementary to our portable storage rental business.”
“Consistent with our ongoing capital deployment strategy, this opportunity provides us with additional high-quality fleet to serve the Texas market.
“We look forward to continuing to grow our expanded regional market share and to offering our renowned service to a new set of customers.”
McGrath RentCorp is a Nasdaq listed company supplying modular buildings, electronic test equipment, portable storage and tank containment products across the United States and other select North American markets.
Its rental operations consist of four divisions: Mobile Modular rents and sells modular buildings; TRS-RenTelco rents and sells electronic test equipment; Adler Tank Rentals rents and sells containment solutions for hazardous and nonhazardous liquids and solids; and Mobile Modular Portable Storage supplies portable storage rental solutions.
In mid-2021 McGrath RentCorp acquired Design Space Modular Buildings which was also added to the company’s Mobile Modular division.
