WillScot Mobile Mini is a market leader in modular leasing and portable storage provision in North America. Formed through the 2020 merger of Williams Scotsman and Mobile Mini, the company operates from over 250 locations across the US, Canada, Mexico and the UK. The company operates a fleet of over 350,000 modular units and storage containers serving a diverse range of end markets, including construction, manufacturing, professional services, education and retail.
Initial investment
2007
Sector
Business Services
Initial transaction size
€600m
We recognised an opportunity to unlock further value from the North American arm of Modulaire Group by demerging it from the group and creating a focused, standalone platform to drive both organic and acquisitive growth.
The US modular market was fragmented and underpenetrated, providing scope for consolidation and operational improvement.
We spun out Williams Scotsman into a listed vehicle in 2017, providing it with access to capital with which to pursue accretive acquisitions in the US. The company completed several acquisitions and achieved transformational scale through its 2020 merger with Mobile Mini, the leading portable storage provider in North America.
We also supported the rollout of high-margin value-added products and services and introduced advanced pricing strategies, which combined drove consistent double-digit top-line growth.
WillScot Mobile Mini delivered a very significant step-up in sales and profitability driven by both organic initiatives and synergistic acquisitions.
The merger with Mobile Mini diversified end-markets and improved cash conversion leading to a re-rating of the business and supporting the sell-down of the listed stake on to the market in 2021.