Sep 12, 2023

Capstone Partners Advised A&M Cold Storage on its Sale to WillScot Mobile Mini Holdings Corp.

Capstone Partners advised A&M Cold Storage—a leader in portable cold storage solutions—on its sale to WillScot Mobile Mini Holdings Corp. (Nasdaq: WSC). Terms of the deal were not disclosed.

A&M Cold Storage rents, leases, and sells portable cold storage containers and refrigerated trailers nationwide. A&M’s climate-controlled containers and trailers are used to transport or store a variety of temperature-sensitive products on a temporary, peak time, or semi-permanent basis. The company serves a variety of industries and government institutions engaged in the nationwide processing, storage, and distribution of food and beverage products, as well as clients in the pharmaceutical, medical, chemical, aerospace, and manufacturing industries. For more information click here.

Capstone was very thorough in explaining current market conditions, potential buyer types, and realistic valuation expectations. The team walked us through the entire sales process, helped organize our financials, and optimally positioned the business to achieve the best possible outcome. Capstone negotiated with buyers, worked with legal teams, and efficiently managed the process, so we could continue running the business with minimal interruption.

Allen MescherCEO, A&M Cold Storage

Paul Janson, Head of Investment Banking at Capstone, stated, “Allen and his team have built an impressive business with an incredible story and growth trajectory. WillScot Mobile Mini is the perfect partner for A&M Cold Storage, and we look forward to seeing the national impact of such a strong partnership. We are proud to have represented a leading provider in the temperature-controlled solutions space and anticipate strong industry tailwinds will fuel M&A in the industry for the foreseeable future.”

Tim Boswell, President, and Chief Financial Officer at WillScot, commented, “As space solutions experts, we specialize in providing value-added solutions that meet the most technically demanding needs for a wide variety of companies. The market for cold storage solutions is rapidly growing with powerful tailwinds across diverse end-markets such as manufacturing, pharmaceuticals, food service and distribution, retail, events, and many others. The addition of refrigerated storage capabilities to our fleet will give us the opportunity to deepen relationships with existing customers who manage temperature sensitive goods and materials and to expand within other growth markets… We are excited to welcome the A&M Cold Storage team into WillScot Mobile Mini, as together we build upon their success to date and create the leading provider of temporary cold storage solutions in North America.”

Headquartered in Phoenix, Arizona, WillScot Mobile Mini (Nasdaq: WAS) is a leading business services provider specializing in innovative and flexible temporary space solutions. The company’s diverse product offering includes climate-controlled storage units, portable storage containers, modular office complexes, mobile offices, classrooms, and more, as well as a curated selection of furnishings, appliances, and other services. WillScot services diverse end markets across all sectors of the economy from a network of approximately 240 branch locations and additional drop lots throughout the United States, Canada, and Mexico. For more information click here.

The expert investment banking professionals on Capstone Partners’ Industrials Team work with leading middle market companies operating in the Specialty Rental market to advise with their strategic decision-making in order to maximize financial outcomes at every stage of the business lifecycle. Our firm has developed a full suite of corporate finance solutions, including M&A advisory, debt advisory, financial advisory, and equity capital financing to help privately owned businesses and private equity firms address any need, ranging from growth and financial or operational advisement to an ultimate exit transaction. To learn more about this transaction, or about the benefits of starting a relationship with our Industrials Banking Team, contact us here.