August 26, 2014
Prophet Equity II LP Announces Acquisition of Acton Mobile
Southlake, TX and Baltimore, MD Acton Mobile (“Acton”) announced today that it has been acquired by Prophet Equity II LP, a lower and middle market focused private equity firm headquartered in Southlake, TX.
Brian Hegi, Senior Principal of Prophet Equity, said, “We are excited about the opportunity to partner with Acton Mobile’s talented executive team led by Ingrid West and Rodney Shrader, an impressive group of Branch Managers, and the employee base as a whole to build Acton Mobile into the premier modular rental and storage business in the Gulf Coast, Southeast, Mid-Atlantic and Midwest. Acton is ideally positioned to capitalize on a growing commercial construction market and achieve extraordinary results.”
“I knew the minute we met the Prophet Equity team that we had a great fit with an ideal partner,” said Ingrid West, President of Acton Mobile. “This transaction will provide Acton Mobile with the necessary resources and capital to grow the core business,while also facilitating strategic expansion in new markets where we see ample opportunity. I could not be more pleased with the outcome of this acquisition, and I am excited about the opportunities ahead.”
“Prophet Equity targets companies and management teams just like Acton,” commented Ross Gatlin, Prophet Equity’s CEO and Managing Partner. “Acton is an asset-intensive company with unique strategic strength that will benefit tremendously from our patient capital and operational and strategic experience creating value. We are very grateful for the opportunity to work alongside and support the management team and employee base as we invest in enhancing product offerings and geographic reach for to serve our customers even better in the future.”
Charles Collie, Senior Executive Director of Prophet Equity, remarked, “Prophet Equity is pleased to continue the long term financing relationship that Acton has maintained with its senior lenders in a credit facility that provides both consistency and new flexibility for the company as it expands into new markets and adds to its fleet.”
About Acton Mobile
Founded in 1968, Acton Mobile is a Baltimore, MD based provider of modular space and portable storage rental solutions to the construction, commercial, education, healthcare and government markets. With a fleet of more than 10,000 units and a branch network of 22 locations in 12 states, Acton is a multi-regional company specializing in providing temporary building solutions for non-residential construction and business customers. Acton offers rental, delivery, setup, and maintenance services, pick up of temporary mobile offices, and the sale of both new and used units.
About Prophet Equity II LP
Prophet Equity II LP is a private equity firm that uses proven, data-driven analytical techniques coupled with over 100 years of investment and management experience to invest in, unlock and realize future value today. Partnering with owners and management teams, Prophet Equity’s team utilizes a toolkit that is Fortune 500 tested and private equity proven to diagnose and drive dramatic value creation. Portfolio company management teams are highly motivated with clear, uncapped incentives based on realized business performance.
Over the last fifteen years, Prophet Equity’s Principals have invested and managed over $2 billion of value creation across entities with over $4 billion in revenue. Our control equity investments focus on strategically strong, lower and middle market businesses with significant value creation potential. These are typically found in partnerships, corporate carve-outs, divestitures and non-strategic business units of larger companies. Representative business situations include special situations, succession planning, recapitalizations, reorganizations, turnarounds, acquisitions, mergers and bankruptcies. For more information, please visit www.prophetequity.com or call us at +1.817.898.1500.