Mobile Mini Completes Acquisitions in North Dakota and North Carolina
TEMPE, Ariz. -- March 31, 2014
Mobile Mini, Inc. (Nasdaq:MINI) today announced it has completed the purchase
of the assets and operations of two portable storage providers located in
North Dakota and North Carolina. Financial terms of the transactions were not
“These acquisitions align with our growth strategy in geographic areas of
opportunity where we can acquire high utilization rental assets on favorable
terms,” said Erik Olsson, Mobile Mini President and Chief Executive Officer.
“The expansion of our fleet in both North Dakota and North Carolina provides
strategic opportunities by increasing access and availability for new and
existing customers in these regions. We find the oil & gas driven market in
North Dakota to be attractive and the newly acquired North Carolina units are
over 95% utilized, both of which should provide consistent long-term returns.”
The two newly acquired businesses have a combined fleet of over 1,200 units
which consists predominately of portable storage containers. Mobile Mini will
not add any employees from either acquired business.
Mr. Olsson continued, “We are executing on our growth strategy by focusing on
both organic growth along with strategic acquisitions and believe this will
continue to add long term value for our shareholders.”
About Mobile Mini
Mobile Mini, Inc. is the world’s leading provider of portable storage
solutions. Mobile Mini is included on the Russell 2000® and 3000® Indexes and
the S&P Small Cap Index. For more information visit www.mobilemini.com.
Forward Looking Statements
This news release contains certain “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These forward-looking statements are based on
current information and expectations, which involve a number of risks and
uncertainties that could cause actual results to differ materially. The
forward-looking statements herein include statements regarding the company’s
ability to grow and the company’s plans and expectations regarding expansion,
future results, business strategy, and objectives of management for future
operations. In particular, these risks and uncertainties include difficulties
in integrating the acquired operations; the possibility that expected growth
and value will not be realized; and the uncertainty of business/economic
conditions and the related growth trends. In addition, forward-looking
statements generally can be identified by the use of forward-looking
terminology such as “may,” “plan,” “will,” “expand,” “establish,” “expect,”
“intend,” “anticipate,” “believe” or “continue” or the negative thereof or
variations thereon or similar terminology and expressions to identify
forward-looking statements. Therefore the company cautions you to not unduly
rely on these forward-looking statements and encourages you to understand the
risks and uncertainties described herein and as stated in the “Risk Factors”
and elsewhere in the company’s Annual Report on Form 10-K as filed with the
United States Securities and Exchange Commission.
Mobile Mini, Inc.
Mark Funk, 480-477-0241
Executive VP & CFO
INVESTOR RELATIONS COUNSEL:
The Equity Group Inc.
Fred Buonocore, 212-836-9607
Linda Latman, 212-836-9609
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