Is WillScot The Next Big Buyout? What PE Firms See in This Modular Giant!

WillScot Mobile Mini Holdings, a leader in modular buildings and storage solutions, has recently caught the attention of private equity firms, sparking speculation about its potential as an acquisition target. The company has reportedly fielded interest from several PE firms, with at least one engaging investment bankers to explore a possible deal. This news follows WillScot’s strategic moves, including the termination of a $3.8 billion acquisition of McGrath RentCorp due to regulatory challenges, and its response to activist investor TOMS Capital’s call for a strategic review. Despite headwinds in nonresidential construction, WillScot has shown resilience, achieving record adjusted EBITDA margins of 44.4% in Q3 2024 and maintaining strong cash flow. As the company continues to streamline operations, enhance its portfolio, and optimize customer-focused initiatives, its unique positioning makes it an appealing opportunity for private equity investors.