Acton Mobile triples EBITDA and invested equity in 3 years
December 20, 2017 -Southlake, TX – Prophet Equity (“Prophet”), a Southlake, TX-based private equity firm, completed the sale of its portfolio company, Acton Resources Holdings LLC (“Acton”) to Williams Scotsman (NASDAQ: WSC) for $235 million in cash.
In August 2014, Prophet acquired Acton, a regional modular space rental company with 18 branches in the eastern United States and Gulf Coast. In May 2015, Acton carved-out the mobile office fleet from Mobile Mini (NASDAQ: MINI), which doubled Acton’s fleet to over 21,000 units and allowed Acton to open 16 new branches throughout the United States over the following 12 months and transformed Acton from a regional competitor into one of the nation’s largest mobile office and storage rental companies.
Mike Sullivan, Senior Principal at Prophet Equity commented, “Acton’s transformation into a large national competitor is a testament to the leadership of Ingrid West, Acton’s President, and her impressive senior leadership team. Since the acquisition of the Mobile Mini fleet, the Acton team opened 16 new branches and transformed an underutilized fleet into a highly profitable business with significant cash flow.”
“Prophet Equity has been the ideal partner for Acton over the last 3 years,” said Ingrid West. “We have been a cohesive team as we planned and implemented the Company’s complicated strategic and operational path. It has been a pleasure to work with such a results focused and collaborative private equity group.”
“The Acton Mobile investment is a fantastic outcome for our investors and another example of tremendous results driven by Prophet Equity’s unique ability to partner with management teams and drive extraordinary results through our Holistic Value Creation™ (HVC™) process,” added Ross Gatlin, Prophet’s CEO and Managing Partner. “The powerful combination of Prophet’s unique strategic and operational tool kit, combined with an exceptionally experienced industry team, drove outstanding results for everyone involved.”
Oppenheimer & Co. Inc. served as financial advisor to Acton Mobile and Prophet Equity.
ABOUT ACTON MOBILE
Founded in 1968, Acton Mobile (www.ActonMobile.com) is a Baltimore, MD based provider of modular space rental services to the construction, energy exploration, commercial, education, healthcare, and government markets. With a fleet of more than 21,000 units and a branch network of 34 locations serving customers nationwide, Acton is dedicated to meeting customer needs. The company offers rental, sales, delivery, setup, maintenance services, pick up of mobile facilities, temporary mobile office trailers, and temporary storage units.
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