McGrath RentCorp (“McGrath” or the “Company”) (Nasdaq: MGRC), a leading business-to-business rental company in North America, today announced it has acquired the assets of Inland Leasing and Storage, a regional provider of portable storage solutions in the Colorado market. The transaction was funded with borrowings from McGrath’s revolving credit facility. The acquisition adds approximately 600 assets to McGrath’s portable storage operations in Colorado.
“Our acquisition of Inland Leasing and Storage is highly complementary to our portable storage rental business,” said Joe Hanna, President and CEO of McGrath. “Consistent with our ongoing capital deployment and geographic expansion strategies, this opportunity provides us with accelerated regional density and a high-quality fleet to serve the Colorado market. We look forward to expanding our market share with a new set of customers.”
About Inland Leasing & Storage
Inland Leasing & Storage is a locally owned and operated trailer and storage container rental and sales supplier serving a broad range of businesses with branches located in Loveland, Colorado, Chicago, Illinois and Tucson, Arizona. With our team of quality employees and proven sales force, Inland Leasing & Storage provides reliable storage and rental solutions for many personal, industrial, agricultural, and commercial business needs. This type of service is essential to a smoothly run operation for any industry. Inland Leasing & Storage philosophy is to fill the needs of customers when they need it most. From daily rentals to long term leases, Inland Leasing & Storage is your solution! We offer semi trailers for local and long distance transportation needs and also trailers & storage containers for storage only purposes. From 40' to 53' long enclosed trailers and flatbeds to 8' wide x 10' long to 10' wide x 40' long storage containers we are able to assist you in any storage need possible. Choose from 1 day rentals to long term leases. Our customer base varies from regional clients to single facility companies and the family homeowners. Trailer & Container modifications are also available. Call or e-mail us for more information or to get a quote on your storage needs.
About MCGRATH
McGrath RentCorp (Nasdaq: MGRC) is a leading business-to-business rental company in North America with a strong record of profitable business growth. Founded in 1979, McGrath’s operations are centered on modular solutions through its Mobile Modular and Mobile Modular Portable Storage businesses. In addition, its TRS-RenTelco business offers electronic test equipment rental solutions. The Company’s rental product offerings and services are part of the circular supply economy, helping customers work more efficiently, and sustainably manage their environmental footprint. With over 40 years of experience, McGrath’s success is driven by a focus on exceptional customer experiences. This focus has underpinned the Company’s long-term financial success and supported over 30 consecutive years of annual dividend increases to shareholders, a rare distinction among publicly listed companies.