WillScot Mobile Mini Acquires Sommer's Mobile Leasing For Undisclosed Sum

WillScot Mobile Mini Holdings Corp WSC has closed the acquisition of regional Modular Space company Sommer's Mobile Leasing, Inc. for undisclosed financial terms.
This acquisition adds about 1,200 modular units and about 500 storage units in the company's existing U.S. markets in Ohio and West Virginia.
WillScot funded the transaction with cash on hand and borrowings under the revolving credit agreement. It held cash and cash equivalents of $15.4 million as of June 30, 2021.
"Consistent with our M&A strategy, these operations allow us to extend our 'Ready to Work' value proposition to new customers with our industry-leading service capabilities while leveraging our technology investments and operational best practices to create value for our shareholders," said CEO Brad Soultz.
Price Action: WSC shares are trading higher by 1.29% at $33.86 on the last check Monday.