Williams Scotsman Announces Acquisition of Tyson Onsite
BALTIMORE, Jan. 03, 2018 (GLOBE NEWSWIRE) — WillScot Corporation (NASDAQ:WSC) (“Williams Scotsman”) today announced that it has acquired Onsite Space LLC (d/b/a Tyson Onsite, www.TysonOnsite.com). As a result of the acquisition, Williams Scotsman will expand its Ready to Work services to existing and incremental customers in the Midwest, most notably in Indiana, Illinois and Missouri. The acquisition increases Williams Scotsman’s offering by approximately 1,750 units.
Brad Soultz, president and chief executive officer of Williams Scotsman, commented, “We are excited to announce the addition of Tyson Onsite to our Company. Tyson Onsite is highly complementary to the Williams Scotsman market strategy and strengthens our position in key Midwestern markets. I am pleased to welcome Tyson Onsite employees to our Company and look forward to the many growth opportunities ahead for Williams Scotsman. As we move forward in 2018, we continue to see excellent acquisition opportunities in our target markets and we are well positioned to further execute on our growth strategy.”
The transaction was funded with cash on hand and borrowings under Williams Scotsman’s revolving credit agreement. Financial terms of the transaction were not disclosed.
About WillScot Corporation
Headquartered in Baltimore, Maryland, WillScot Corporation is the public holding company for the Williams Scotsman family of companies in the United States, Canada and Mexico. WillScot Corporation trades on the NASDAQ stock exchange under the ticker symbol “WSC.” Williams Scotsman is a specialty rental services market leader providing innovative modular space and portable storage solutions across North America. Williams Scotsman is the modular space supplier of choice for the construction, education, health care, government, retail, commercial, transportation, security and energy sectors. With over half a century of innovative history, organic growth and strategic acquisitions, its branch network includes over 100 locations, its fleet comprises nearly 100,000 modular space and portable storage units and its customer base has grown to approximately 35,000.
About Tyson Onsite
Tyson OnSite is a regional leader in the rental and sales of commercial modular buildings, mobile offices, portable classrooms, and storage solutions. Tyson OnSite is headquartered in Indianapolis, IN and currently services customers throughout the Midwest with locations in Indianapolis, IN and St. Louis, MO.
Forward Looking Statements
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: our inability to realize the anticipated benefits of the announced acquisition; costs related to the acquisition and integration of the acquired companies; our ability to manage growth and execute our business plan; our estimates of the size of the markets for our products; the rate and degree of market acceptance of our products; the success of other competing modular space and portable storage solutions that exist or may become available; rising costs adversely affecting our profitability; potential litigation involving our company; general economic and market conditions impacting demand for our products and services; and such other risks and uncertainties as are discussed under the heading “Risk Factors” in our Current Report on Form 8-K, filed with the Securities and Exchange Commission (“SEC”) on December 5, 2017 and those discussed in other reports filed with the SEC by us from time to time, including those discussed under such heading in our Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K to be filed with the SEC. Any forward-looking statement speaks only at the date which it is made, and Williams Scotsman disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Additional Information and Where to Find It
Additional information about Williams Scotsman can be found on the Williams Scotsman investor relations website at www.investors.willscot.com