Industrials Company WillScot Mobile Mini Announces Merger With McGrath RentCorp

WillScot Mobile Mini (NASDAQ:WSC) has announced a merger with McGrath RentCorp (NASDAQ:MGRC) that is expected to be completed in Q2 of 2024.

Under the terms of the agreement, WillScot Mobile Mini has agreed to give McGrath RentCorp $3.80 billion in cash & stock in exchange for MGRC stock.

About The Companies Involved

WillScot Mobile Mini Holdings Corp is a business services provider specializing in innovative flexible work space and portable storage solutions. The company's segment includes Modular Solutions and Storage Solutions.

McGrath RentCorp is a rental company. It is comprised of four reportable business segments: Modular building and portable storage segment (Mobile Modular), Electronic test equipment segment (TRS-RenTelco), Containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks) and Classroom manufacturing division selling modular classrooms in California (Enviroplex).

How A Merger Works

A merger happens when a company combines operations with another company. In practice, one company will buy the other company's stock in exchange for its own stock. In some cases, cash is used to pay for the company's stock but usually the companies agree to a stock-for-stock transaction.

Due to the exchange and acquisition of stock, a merger is similar to an acquisition. This is why the two terms are commonly grouped together as mergers and acquisitions (M&A). However, in a merger, the leadership & operations of both companies usually change dramatically, while during an acquisition this is less likely to happen.

Make sure to follow our mergers & acquisitions calendar to stay-up-to-date on the most recent M&A deals.

This article was generated by Benzinga's automated content engine and reviewed by an editor.