Mobile Mini, Inc. (Nasdaq GS:MINI) announced it has completed the purchase of the assets and operations of two portable storage businesses with operations in Connecticut, Memphis, Tennessee and Dallas, Texas. Financial terms of the transactions were not disclosed.
“We continue to execute on our strategy of making acquisitions in growth markets where we can acquire highly utilized rental assets on favorable terms,” said Erik Olsson, Mobile Mini President and Chief Executive Officer. “Our expansion in Connecticut will help support growth in high population areas, while the acquisition of a portable storage business with operations in Memphis and Dallas will meaningfully increase our units on rent in those markets without adding significant costs.”
The two newly acquired businesses have a combined fleet of approximately 2,000 units comprised of containers and security offices with total utilization of over 80%.
Mr. Olsson continued, “We are executing on our growth strategy of focusing on internal growth along with strategic acquisitions and believe this will continue to add long-term value for our shareholders.”