Willscot Mobile Mini - TDR Capital

WillScot Mobile Mini (WSMM) is the number one modular leasing and portable storage solutions provider in North America. The group was formed through the merger of Williams Scotsman and Mobile Mini in July 2020.

Together the two brands operate from approximately 275 locations across the United States, Canada, Mexico and the United Kingdom with a combined fleet of over 350,000 modular units and storage containers. WSMM serves a diverse range of end markets including construction, manufacturing, professional services, education and retail.

At a glance
Status: Realised
Exit Type: Public Markets
Deal Type: Listed Vehicle
Sector: Business Services
Exit Date: September 2021
Initial Investment Date: October 2007
Website: www.willscotmobilemini.com

Transaction

In November 2017 we completed a transaction spinning out Williams Scotsman from the wider Algeco Scotsman Group into a publicly listed vehicle, with TDR maintaining a significant stake in the business.

The transaction provided Williams Scotsman with the financial resources to drive the consolidation of the US modular space market as well as continue its strong organic growth trajectory. In July 2020, Williams Scotsman completed a merger with Mobile Mini in a share exchange transaction forming WillScot Mobile Mini.

During TDR’s investment

Through the spin-out from the parent group, we positioned the business strongly to take advantage of organic growth opportunities and to participate in market consolidation.

Following the spin out of Williams Scotsman, we focused the business on driving further growth in value-added products and services driving strong organic growth.
Williams Scotsman launched an accretive market consolidation programme in North America completing three accretive acquisitions and a transformational merger with Mobile Mini – the leading portable storage solutions provider in North America and the UK.
The strong organic growth and accretive merger between Williams Scotsman and Mobile Mini was reflected in the performance of the WSMM share price and the position was exited during 2021.