Portable self-storage operator Mobile Mini Inc. recently acquired Allstate Containers, a Tennessee-based company that has a fleet of about 2,600 portable-storage units. Financial terms of the transaction weren’t disclosed.
Allstate’s locations in Chattanooga and Knoxville, Tenn., are in markets that project growth, according to Erik Olsson, president and CEO for Mobile Mini. “We continue to execute on our growth strategy by pairing internal revenue growth with strategic acquisitions of high-returning assets. Knoxville and Chattanooga are good markets that continue to grow, and this acquisition allows us to further strengthen our position in Tennessee without adding significant costs,” Olsson said.
Last year, Mobile Mini acquired Beacon Equipment Leasing, a portable-storage business based in Buffalo, N.Y., as well as Houston-based Evergreen Tank Solutions. Through the Evergreen subsidiary, Mobile Mini has 24 locations that provide specialty containment solutions.
Founded in 1983 and based in Phoenix, Mobile Mini is a provider of portable-storage and mobile-office solutions. The company operates more than 134 locations throughout North America and the United Kingdom. It reported first-quarter 2015 revenue of $132.6 million, a 29.5 percent increase from the same quarter in 2014, the source reported. Second-quarter financial results will be released on July 23.
- Phoenix Business Journal: Mobile Mini Acquires Tennessee Portable Storage Company