M&A Deal Summary

McGrath Rent Acquires VESTA Modular

On February 1, 2023, McGrath Rent acquired construction company VESTA Modular from Kinderhook Industries for 400M USD

Acquisition Highlights
  • This is McGrath Rent’s 1st transaction in the Construction sector.
  • This is McGrath Rent’s largest (disclosed) transaction.
  • This is McGrath Rent’s 4th transaction in the United States.
  • This is McGrath Rent’s 1st transaction in Michigan.

M&A Deal Summary
Date 2023-02-01
Target VESTA Modular
Sector Construction
Buyer(s) McGrath Rent
Sellers(s) Kinderhook Industries
Deal Type Add-on Acquisition
Deal Value 400M USD
Advisor(s) Oppenheimer & Co. (Financial)
Kirkland & Ellis (Legal)

Target

VESTA Modular

Southfield, Michigan, United States
website
VESTA Modular is a provider of temporary and permanent modular space solutions across a diverse base of end markets and applications. VESTA Modular operates two divisions modular space leasing whereby it leases units from its owned fleet of over 6,000 units to customers across a range of end markets and modular project installation whereby it facilitates the design, construction, and installation of modular spaces.VESTA Modular was founded in 2014 and is based in Southfield, Michigan.

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Buyer(S) 1

Buyer

McGrath Rent

Livermore, California, United States

website

Category Company
Founded 1979
Sector Business Services
Employees911
DESCRIPTION

McGrath Rent is a business-to-business rental company offers electronic test equipment rental solutions. McGrath Rent was founded in 1979 and is based in Livermore, California.

DEAL STATS #
Overall 4 of 6
Sector (Construction) 1 of 1
Type (Add-on Acquisition) 4 of 6
State (Michigan) 1 of 1
Country (United States) 4 of 6
Year (2023) 1 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-01 Adler Tank Rentals

Newark, New Jersey, United States

Adler Tank Rentals is a provider of liquid and solid containment solutions for the storage of hazardous and non-hazardous waste. Adler rents temporary storage tanks and containers used in energy, environmental, industrial and construction applications across the U.S. Adler Tank Rentals is based in Newark, New Jersey.

Sell $265M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-03 Dixie

North Charleston, South Carolina, United States

Dixie is a provider of portable storage solutions in the South Carolina market.

Buy -

Seller(S) 1

SELLER

Kinderhook Industries

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2003
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kinderhook Industries targets control investments in companies valued between $25 to $250 million. Prospective transaction situations include acquiring non-core divisions of public companies, existing small capitalization companies lacking institutional support, management buyouts of entrepreneurial-owned businesses, and troubled companies. Sectors of interest include consumer products and services, media, packaging, industrial products, communications, and business services. Kinderhook Industries was formed in 2003 and is based in New York, New York.

DEAL STATS #
Overall 38 of 40
Sector (Construction) 1 of 1
Type (Add-on Acquisition) 29 of 31
State (Michigan) 5 of 5
Country (United States) 37 of 39
Year (2023) 1 of 3
Size (of disclosed) 3 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-22 Ironclad Environmental

Baytown, Texas, United States

Ironclad Environmental is a provider of specialty waste management solutions and temporary storage and containment equipment for hazardous and non-hazardous waste. Ironclad Environmental was formed in 1983 and is based in Baytown, Texas.

Buy $323M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-20 Cards

Springdale, Arkansas, United States

Cards is a regional provider of solid waste collection services in Northwest Arkansas and surrounding areas with operations extending into Kansas, Missouri, Oklahoma, and Texas. It provides municipal, commercial, and industrial waste collection services to over 56,500 customers and offers post-collection disposal services throughout its waste footprint. Cards is based in Springdale, Arkansas.

Buy -
Mergr

Product

Company

Legal