M&A Deal Summary

WillScot Mobile Mini Acquires ModSpace

On June 22, 2018, WillScot Mobile Mini acquired building materials company ModSpace from ABS Capital Partners, Calera Capital and LNC Partners for 1.1B USD

Acquisition Highlights
  • This is WillScot Mobile Mini’s 2nd transaction in the Building Materials sector.
  • This is WillScot Mobile Mini’s 3rd largest (disclosed) transaction.
  • This is WillScot Mobile Mini’s 3rd transaction in the United States.
  • This is WillScot Mobile Mini’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2018-06-22
Target ModSpace
Sector Building Materials
Buyer(s) WillScot Mobile Mini
Sellers(s) ABS Capital Partners
Calera Capital
LNC Partners
Deal Type Add-on Acquisition
Deal Value 1.1B USD
Advisor(s) Moelis & Co. (Financial)

Target

ModSpace

Berwyn, Pennsylvania, United States
ModSpace is the largest privately held provider of office trailers, portable storage units and modular buildings for temporary or permanent space needs in North America. Building on nearly 50 years of experience, ModSpace serves a diverse set of customers and markets—including commercial, construction, education, government, health care, industrial, energy, disaster relief, franchise and special events—through an extensive branch network across the United States and Canada.

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Buyer(S) 1

Buyer

WillScot Mobile Mini

Phoenix, Arizona, United States

Category Company
Sector Business Services
Employees5,000
Revenue 2.4B USD (2023)
DESCRIPTION

WillScot Mobile Mini is a specialty modular space and portable storage rental solutions across North America. The company is the modular space supplier of choice for the construction, education, health care, government, retail, commercial, transportation, security and energy sectors. WillScot Mobile Mini is based in Phoenix, Arizona.


DEAL STATS #
Overall 3 of 10
Sector (Building Materials) 2 of 2
Type (Add-on Acquisition) 3 of 9
State (Pennsylvania) 1 of 1
Country (United States) 3 of 9
Year (2018) 2 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-03 Tyson Onsite

Indianapolis, Indiana, United States

Onsite Space LLC is a rental and sales of commercial modular buildings, mobile offices, portable classrooms, and storage solutions. Onsite Space was founded in 1967 and is based in Indianapolis, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-02 Mobile Mini

Phoenix, Arizona, United States

Mobile Mini, Inc. is a provider of portable storage solutions through its total rental fleet of approximately 209,500 portable storage containers and office units. Mobile Mini was founded in 1983 and is based in Phoenix, Arizona.

Buy -

Seller(S) 3

SELLER

ABS Capital Partners

Hunt Valley, Maryland, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1990
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ABS Capital Partners is a private equity firm that invests in later-stage growth companies in the healthcare, technology, business services, media and communications sectors. ABS provides capital to help fund growth, provide shareholder liquidity, pursue acquisitions, or to effect a management buyout. The Firm prefers US based business and will consider both majority and minority positions. ABS looks to commit $10 to $30 million per transaction. ABS Capital was formed in 1990 and has offices in Baltimore, Maryland; Waltham, Massachusetts; and San Francisco, California.


DEAL STATS #
Overall 60 of 70
Sector (Building Materials) 1 of 1
Type (Add-on Acquisition) 27 of 34
State (Pennsylvania) 3 of 3
Country (United States) 59 of 69
Year (2018) 3 of 5
Size (of disclosed) 2 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-07 RedZone Robotics

Warrendale, Pennsylvania, United States

RedZone Robotics is a technology-enabled solutions business that uses proprietary robots and software tools to provide inspection, data collection, and asset management services primarily for wastewater pipeline systems. RedZone Robotics was founded in 1987 and is based in Warrendale, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-06 Purch

Ogden, Utah, United States

Purch is a provider of a Technology and science media companies in the world, with a global audience of more than 72 million engaged tech and science enthusiasts visiting our brands each month. Purch was founded in 2003 and is based in Ogden, Utah.

Sell -
SELLER

Calera Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Calera Capital Partners LP is a private equity firm that targets investments in mid-sized North American businesses valued up to $750 million. Calera Capital looks to invest at least $35 million of equity capital per transaction. Target industries include manufacturing, software, healthcare, consumer products and services. Prospective transaction situations include leveraged recapitalizations of privately held companies, restructurings, growth financings/acquisitions, corporate spin-offs, and take-private situations. Calera seeks businesses with leading market positions, attractive margins, and strong organic growth. Calera Capital was formerly known as Fremont Partners, a unit of the Fremont Group. Calera Capital was formed in 1991 and has offices in San Francisco, California and Boston, Massachusetts.


DEAL STATS #
Overall 19 of 24
Sector (Building Materials) 3 of 3
Type (Add-on Acquisition) 5 of 7
State (Pennsylvania) 2 of 3
Country (United States) 18 of 21
Year (2018) 1 of 3
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-24 United Site Services

Westborough, Massachusetts, United States

United Site Services is a provider of portable restrooms, temporary fence and related site services. With more than 85 locations coast to coast and the largest fleet of portable sanitation equipment, it is no wonder why United Site Services is trusted by more top industry professionals than any other temporary site service provider. Company wide selection of solutions, products, and our fast, courteous customer service provides peace of mind during all phases of your project or event.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-02 Grandpoint Capital

Los Angeles,, California, United States

Grandpoint Capital, Inc. is a parent company of Grandpoint Bank, a full service commercial bank with assets of $3.2 billion focused on professionals, entrepreneurs, and privately held businesses. The Bank operates 14 banking offices in Southern California, Washington, and Arizona. Grandpoint Capital and Grandpoint Bank was founded in 2010 and is headquartered in Los Angeles, California.

Sell $629M
SELLER

LNC Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

LNC Partners is a private investment firm focused on providing $10 to $30 million of equity and junior capital to support a variety of company transactions. As a provider of debt, LNC offers subordinated debt and unitranche securities. As a provider of equity, LNC will invest as a minority or majority partner. Prospective transaction situations include buyouts, refinancings, acquisition financings, growth capital needs, and recapitalizations. Sectors of interest include business and information services, financial services, insurance, healthcare, and niche manufacturing. LNC Partners is based in Reston, Virginia.


DEAL STATS #
Overall 20 of 26
Sector (Building Materials) 1 of 1
Type (Add-on Acquisition) 8 of 9
State (Pennsylvania) 4 of 6
Country (United States) 20 of 26
Year (2018) 1 of 2
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-01 West Physics

Atlanta, Georgia, United States

West Physics is a national provider of medical and health physics consulting and testing services, primarily providing testing and other services that allow its customers to comply with ACR, IAC, and Joint Commission accreditation standards for medical imaging equipment. West Physics is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-12 Quick Med Claims

Pittsburgh, Pennsylvania, United States

Quick Med Claims is a provider of outsourced RCM solutions covering the entire claim cycle with unique, dual expertise in air and ground emergency transport services. QMC’s services and solutions platform maximizes reimbursement, cash collection, and timing, and ensures compliance for its diverse EMS-focused customer base. Quick Med Claims was founded in 1991 and is based in Pittsburgh, Pennsylvania.

Sell -