WillScot Mobile Mini Holdings (NASDAQ:WSC) has entered into a definitive agreement to acquire McGrath RentCorp.
The transaction, valued at approximately $3.8 billion, aims to enhance the company's position as the North American leader in innovative temporary space solutions.
The merger will see the companies create a formidable entity serving over 85,000 customers, who will benefit from an expanded distribution of value-added products and services.
WillScot Mobile Mini anticipates generating approximately $700 million of annual free cash flow by the end of the first full year following the closure.
With this move, the combined company is projected to have a pro forma revenue of $3.2 billion and an adjusted EBITDA of $1.4 billion for 2023.