Mobile Mini Completes Acquisition Near Glasgow, Scotland
By Business Wire News
By Business Wire News
Mobile Mini, Inc. (Nasdaq GS: MINI) today announced it has completed the purchase of the assets and operations of a portable storage business from Fraser Ltd., based near Glasgow, Scotland. Financial terms of the transaction were not disclosed.
“Our acquisition of the Fraser storage container operation is consistent with our strategy to add high returning assets in attractive geographies,” stated Erik Olsson, President and Chief Executive Officer of Mobile Mini. “The expansion of our presence in Scotland furthers our objective to diversify our customer base in market sectors such as retail and education. Fraser has a reputation for outstanding service and its fleet of high quality container units is approximately 88% utilized. We expect the integration of the business to be seamless, and provide the ability to generate incremental leasing revenue and profit in our U.K. operations.”
The newly acquired business has a fleet of approximately 500 units. The containers will be integrated with the Company’s existing branch operations in the Glasgow-area.
Established in 2000, Fraser Ltd is a family run business which provides container rental and sales, container repairs, as well as modification and transport services.
About Mobile Mini
Mobile Mini, Inc. is the world’s leading provider of portable storage solutions through its total lease fleet of approximately 213,500 portable storage containers and office units with 136 locations in the U.S., United Kingdom, and Canada. Through its wholly-owned subsidiary, Evergreen Tank Solutions, Mobile Mini is also the third largest provider of specialty containment solutions in the U.S., with a lease fleet of approximately 10,600 units and 24 locations. 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 leasing revenue and profit, as well as integrate the acquired business, and objectives of management for future operations. 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.
Mobile Mini, Inc.
Mark Funk, 480-477-0241
Executive VP & CFO
INVESTOR RELATIONS COUNSEL:
The Equity Group Inc.
Fred Buonocore, 212-836-9607
Linda Latman, 212-836-9609