April 17, 2015 – Baltimore, MD and Southlake, TX – Acton Mobile (www.ActonMobile.com), a portfolio company of Prophet Equity, announced today that it has entered into a definitive agreement to acquire the mobile office fleet of Mobile Mini. The transaction is expected to close in mid-May.
“Mobile Mini has one of the highest quality mobile office fleets in the industry. This acquisition will immediately strengthen Acton Mobile’s capabilities in its existing markets, while also broadening the geographic footprint across the United States,” commented Mike Sullivan, Senior Vice President of Prophet Equity.
Executives at both Acton and Prophet Equity have expressed that the acquisition will fuel expansion into new markets and will provide additional inventory to better serve Acton Mobile’s existing markets, which consist of 21 locations in 12 states.
“This acquisition makes Acton Mobile the 4th largest mobile office leasing company in the U.S.,” said Ingrid West, Acton Mobile’s President. “With approximately 9,400 mobile office units joining our fleet, we’ll have additional inventory to better serve growing markets. This acquisition will also position us for expansion into new geographic markets and to support additional customer segments.”
For the next several months, the Acton Mobile and Mobile Mini teams will be working together to ensure a smooth transition with Mobile Mini’s existing mobile office customers. “Both the Prophet Equity and Acton Mobile teams have significant corporate carve-out experience to facilitate a smooth transition,” remarked Ross Gatlin, Prophet Equity’s CEO and Managing Partner. “Prophet Equity targets unique transactions like this carve-out and has an experienced team to support the integration.”
Charles Collie, Managing Director – Leveraged Finance, commented, “Prophet Equity and Acton Mobile have expanded the financing relationship with its existing lenders to support this acquisition while continuing to provide flexibility for future expansion.”
About Acton Mobile
Acton Mobile is a Baltimore, MD-based provider of modular space rental services. It currently operates through 21 locations in 12 states. The company offers rental, delivery, setup, maintenance, and pick up services for temporary mobile office trailers and sells new and used units. Conforming to OSHA and ADA codes is extremely important, and Acton provides mobile office trailer accessories, such as steps and ramps that meet these requirements.
About Prophet Equity
Prophet Equity 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.
Edited by webmaster