Mobile Mini Completes Acquisitions in Connecticut, Texas and Tennessee
TEMPE, Ariz.--(BUSINESS WIRE)--Mobile Mini, Inc. (Nasdaq GS:MINI) today 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”
“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.”
About Mobile Mini
Mobile Mini, Inc. is the world’s leading provider of portable storage solutions. Mobile Mini is included on the Russell 2000® and 3000® Indexes and the S&P Small Cap Index. For more information visit www.mobilemini.com.
Forward Looking Statements
This news release contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on current information and expectations, which involve a number of risks and uncertainties that could cause actual results to differ materially. The forward-looking statements herein include statements regarding the company’s ability to grow and the company’s plans and expectations regarding expansion, future results, business strategy, and objectives of management for future operations. In particular, these risks and uncertainties include difficulties in integrating the acquired operations; the possibility that expected growth and value will not be realized; and the uncertainty of business/economic conditions and the related growth trends. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “will,” “expand,” “establish,” “expect,” “intend,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology and expressions to identify forward-looking statements. Therefore the company cautions you to not unduly rely on these forward-looking statements and encourages you to understand the risks and uncertainties described herein and as stated in the “Risk Factors” and elsewhere in the company’s Annual Report on Form 10-K as filed with the United States Securities and Exchange Commission.