Mobile Mini merger of equals with WillScot
Davis Polk is advising Mobile Mini, Inc. on its all-stock merger of equals with WillScot Corporation to form a combined company with an implied total enterprise value of approximately $6.6 billion. Mobile Mini shareholders will receive 2.4050 shares of WillScot common stock for each share of Mobile Mini common stock. The transaction, which is expected to close in the third quarter of 2020, is subject to customary closing conditions, including receipt of customary regulatory approval and approval by the shareholders of each company, and has been approved by the boards of directors of Mobile Mini and WillScot.
Mobile Mini is a leading provider of portable storage solutions through its total rental fleet of approximately 200,200 storage solutions containers and office units and a leading provider of tank and pump solutions in the United States, with a rental fleet of approximately 12,700 units. WillScot is a specialty rental services market leader providing innovative modular space and portable storage solutions across North America. WillScot is a modular space supplier of choice for the construction, education, healthcare, government, retail, commercial, transportation, security and energy sectors.
The Davis Polk corporate team includes partner Phillip R. Mills and associates Shanu Bajaj, Katey Peardon and Michael Santos. Partner Ronan P. Harty is providing antitrust and competition advice. Partner Kyoko Takahashi Lin and associate Thomas Lair are providing executive compensation advice. Partner Hilary Dengel and associate Jack Orford are providing finance advice. Partner Michael Mollerus is providing tax advice. All members of the Davis Polk team are based in the New York office.