BUSINESS: McGrath RentCorp Purchases Texas-Based Container Rental Company.

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Daniel Webster, dWeb.News Publisher

LIVERMORE, Calif.–(BUSINESS WIRE)–McGrath RentCorp today announced it has acquired the assets of Titan Storage Containers, LLC, a regional provider of portable storage solutions in the Texas market. McGrath RentCorp borrowed money from its revolving credit facility to finance the transaction. The acquisition adds approximately 1,100 assets to its existing Mobile Modular division fleet located in the Texas region.

“Our acquisition of Titan Storage Containers is highly complementary to our portable storage rental business.” said Joe Hanna, President and CEO of McGrath RentCorp. This opportunity, which is consistent with our ongoing capital investment strategy, provides us with an additional fleet of high-quality containers to serve the Texas market. We are looking forward to expanding our regional market share and offering our renowned service for a new group of customers. We expect to integrate the assets into our technology systems quickly and seamlessly as we expand our operational capacity in the region.”

ABOUT MCGRATH RENTCORP

Founded in 1979, McGrath RentCorp (Nasdaq: MGRC) is a diversified business-to-business rental company providing modular buildings, electronic test equipment, portable storage and tank containment solutions across the United States and other select North American regions. The company’s rental operations are divided into four divisions. Mobile Modular rents out and sells modular buildings for customers who need temporary or permanent classroom and office space; TRS-Rentelco rents out and sells electronic testing equipment; Adler Tank Rentals rents storage solutions for hazardous and non-hazardous liquids and other solids; and Mobile Modular Portable Storage rents portable storage. For more information on McGrath RentCorp and its operating units, please visit our websites:

Corporate – www.mgrc.com
Modular Buildings – www.mobilemodular.com
Electronic Test Equipment – www.trsrentelco.com
Tanks and Boxes – www.adlertankrentals.com
Portable Storage – www.mobilemodularcontainers.com
School Facilities Manufacturing – www.enviroplex.com

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