Williams Scotsman to use revolver borrowings to acquire Acton Mobile

By Sarah Lizee

Olympia, Wash., Dec. 12 – Williams Scotsman International, Inc. plans to use borrowings under its revolving credit agreement to help fund its acquisition of Acton Mobile, according to a press release.

On Tuesday, the company said it entered into a definitive agreement to purchase the entity that owns Acton Mobile from Prophet Equity for a cash price of $235 million.

Williams Scotsman will also use cash on hand for the transaction, which is expected to close in December.

The company said that as a result of the acquisition, it will have almost 100,000 modular space and portable storage units serving about 35,000 customers from over 100 locations across the United States, Canada and Mexico.

Williams Scotsman is a Baltimore-based provider of modular portable storage solutions and remote workforce accommodation management services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.