Mobile Mini acquisition trail continues
By Helen Wright29 September 2014
US-based rental company Mobile Mini has acquired an unnamed portable storage business in Ft Wayne, Indiana, US, for an undisclosed sum.
The deal follows a string of purchases so far this year, including its acquisition earlier this month of an un-named portable storage business with operations in Daytona Beach, Florida.
In June, it also acquired two portable storage businesses with operations in Connecticut, Memphis, Tennessee and Dallas, Texas; while in March it completed the purchase of two portable storage providers located in North Dakota and North Carolina.
Commenting on the latest deal, president and CEO Erik Olsson said, “We continue to expand our footprint in attractive markets that have been, and continue to be, growing.
"Additionally, this acquisition allows us to open a new branch location in Ft Wayne with highly utilised rental assets and further adds to our ability to service customers throughout this region of the country.”
Mobile Mini said the newly acquired business had a fleet of approximately 600 units at over 90% utilisation.
Mr Olsson added, “We continue to execute on our growth strategy of pairing strategic acquisitions of highly utilised assets on favourable terms with internal revenue growth that adds long term value for our shareholders.”