WillScot Mobile Mini to Acquire New Assets

TL;DR

WSC buying assets, deal expected Q3 2024.

AI Summary

WillScot Mobile Mini Holdings Corp. announced on May 29, 2024, that it has entered into a definitive agreement to acquire the assets of a company. The transaction is expected to close in the third quarter of 2024, subject to customary closing conditions. This acquisition is part of WillScot Mobile Mini's strategy to expand its market presence and service offerings.

Why It Matters

This acquisition could expand WillScot Mobile Mini's operational footprint and service capabilities, potentially leading to increased revenue and market share.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and failure to achieve expected synergies.

Key Players & Entities

• WillScot Mobile Mini Holdings Corp. (company) — Registrant
• May 29, 2024 (date) — Date of earliest event reported
• third quarter of 2024 (date) — Expected closing period for acquisition

FAQ

Key Financial Figures

• $0.0001 — ch registered Common stock, par value $0.0001 per share WSC The Nasdaq Capital Market

Filing Documents

• wsc-20240529.htm (8-K) — 33KB
• wsc-20240529_g1.jpg (GRAPHIC) — 11KB
• 0001647088-24-000092.txt ( ) — 189KB
• wsc-20240529.xsd (EX-101.SCH) — 2KB
• wsc-20240529_lab.xml (EX-101.LAB) — 22KB
• wsc-20240529_pre.xml (EX-101.PRE) — 13KB
• wsc-20240529_htm.xml (XML) — 3KB

01

Item 7.01 Regulation FD Disclosure As previously disclosed, on January 28, 2024, WillScot Mobile Mini Holdings Corp., a Delaware corporation ("WillScot Mobile Mini" or the "Company") entered into an Agreement and Plan of Transaction (the "Merger Agreement") by and among Brunello Merger Sub I, Inc., a California corporation and a direct wholly owned subsidiary of the Company ("Merger Sub I"), Brunello Merger Sub II, LLC, a Delaware limited liability company and direct wholly owned subsidiary of the Company ("Merger Sub II") and McGrath RentCorp, a California corporation ("McGrath"). The Merger Agreement provides that, upon the terms and subject to the conditions set forth therein, Merger Sub I will merge with and into McGrath (the "First-Step Merger"), with the Company surviving the First-Step Merger and, immediately thereafter, McGrath will merge with and into Merger Sub II (the "Second-Step Merger"), with Merger Sub II surviving the Second-Step Merger as a wholly owned subsidiary of the Company (and together with the issuance of the common stock of WillScot Mobile Mini as set forth in the Merger Agreement, collectively, the "McGrath Acquisition"). The McGrath Acquisition is conditioned on, among other things, the expiration or early termination of the statutory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"), and other required regulatory approvals. As previously disclosed, on February 21, 2024, the Company and McGrath each received a request for additional information and documentary material (the "Second Request") the Federal Trade Commission ("FTC") in connection with the FTC's review of the McGrath Acquisition. On May 29, 2024, the Company certified substantial compliance with the Second Request. The Company and McGrath have been working cooperatively with the FTC and expect to continue to do so.

Forward-Looking Statements

Forward-Looking Statements Certain information set forth herein, including statements as to the timing and completion of the McGrath Acquisition (the "Proposed Transaction") and the progress with the FTC, constitutes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results or developments may differ materially from those projected or implied in these statements. Such statements are based upon the current beliefs and expectations of the management of the Company and are subject to significant risks and uncertainties outside of our control. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement the risk that the necessary regulatory approvals may not be obtained or may be obtained subject to conditions that are not anticipated risks that any of the other closing conditions to the Proposed Transaction may not be satisfied in a timely manner risks related to potential litigation brought in connection with the Proposed Transaction negative perceptions of the Company and its business, operations, financial condition and the industry in which it operates as a result of the Proposed Transaction risks related to disruption of management time from ongoing business operations due to the Proposed Transaction effects of the announcement, pendency or completion of the Proposed Transaction on the ability of the Company to retain customers and retain and hire key personnel and maintain relationships with suppliers and partners, and on the Company's operating results and businesses generally and risks related to the potential impact of general economic, political and market factors on the parties to the Proposed Transaction or the Proposed Transaction. Discussions of additional

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View this 8-K filing on SEC EDGAR