Algeco Scotsman halts ModSpace deal

By Helen Wright15 August 2016

Temporary accommodation specialist Algeco Scotsman said it has terminated its planned merger with Modular Space Corp (ModSpace), after the deal was not completed in time.

In March, Algeco said its North American operations - Williams Scotsman – was combining with ModSpace to create a new business owned 50/50 by each company.

But it said the deal had been terminated because it had not been completed by the expiration date established by the merger agreement.

“This does not preclude an alternative transaction for a combination between ModSpace and Williams Scotsman being pursued, though no assurance can be given that any such transaction will occur,” the company added.

Latest News
How will hydrogen change construction equipment rental?
Clean and odourless, hydrogen promises to lift fuel supply out of the “dark ages” of carbon, although its widespread uptake is a way off
M&M Crane Hire fleet to be auctioned off
19 wheeled mobile cranes, plus trucks and tools, from UK crane rental house in unreserved auction
Wilkerson expands fleet with crawlers for Missouri wind work
The Link-Belt package includes a 250-ton TCC-2500 and two 140-ton TCC-1400s for projects in the wind sector.