Trachtenberg to retire from Mobile Mini
By Murray Pollok06 October 2008
Mobile Mini said Mr Trachtenberg was leaving to spend more time with his family and that he had planned to retire earlier but has stayed on to complete the recent acquisition of Mobile Storage Group.
Steven Bunger, Mobile Mini's chairman, president & chief executive officer, said; "We have been incredibly fortunate to have had Larry as our financial navigator all these years...Back in 1996, he was the financial architect of Mobile Mini's transformation from our former manufacturing and sales model into today's marketing and leasing model with company-owned branches.
"Of special recent note, Larry was integrally involved in the Mobile Storage Group merger and postponed his planned retirement to complete the transaction and its integration...We are grateful that Larry will continue to serve on our Board and provide on-going guidance to the Company."
His replacement, Mark Funk, has over 20 years of experience in the banking, finance, and accounting industry. Mr Bunger said; "Mark knows our business and industry extremely well and has been a fervent supporter of our growth strategy for many years. This expertise, plus the excellent relationships he has established with our finance and accounting team, including our lenders, gives Mark a running start in his executing his new duties."
He has previously worked with Mobile Mini on several of its major transactions, including acquisitions, debt offerings and credit facilities. Most recently, he helped secure the company's US$900 million credit facility as part of Mobile Mini's June 2008 merger with Mobile Storage Group, Inc.
Mobile Mini rents approximately 285000 of portable storage units and portable offices from 100 depots in the US, Canada, UK and the Netherlands.