TEMPE, Ariz.--(BUSINESS WIRE)--Mobile Mini, Inc. (Nasdaq GS:MINI) today announced it has completed the purchase of the assets and operations of a portable storage business with operations in Daytona Beach, Florida. Financial terms of the transaction were not disclosed.
“We continue to make acquisitions in growth markets which fit into our strategy of acquiring highly utilized rental assets on very favorable terms,” said Erik Olsson, Mobile Mini President and Chief Executive Officer. “This acquisition will add units currently on rent at over 90% utilization to our existing footprint without adding any additional fixed costs.”
The fleet of the newly acquired business consists almost exclusively of containers.
Mr. Olsson continued, “We are executing on our dual growth strategy of focusing on both internal growth alongside acquisitions that add long term value to our business and 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.