Business Wire | Jan 4, 2022 04:01PM EST

McGrath RentCorp Acquires Texas-Based Container Rental Company

Jan. 04, 2022

LIVERMORE, Calif.--(BUSINESS WIRE)--Jan. 04, 2022--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. The transaction was funded with borrowings from McGrath RentCorp's revolving credit facility. 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. "Consistent with our ongoing capital deployment strategy, this opportunity provides us with additional high-quality fleet to serve the Texas market. We look forward to continuing to grow our expanded regional market share and to offering our renowned service to a new set 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 consist of four divisions: Mobile Modular rents and sells modular buildings to fulfill customers' temporary and permanent classroom and office space needs; TRS-RenTelco rents and sells electronic test equipment; Adler Tank Rentals rents and sells containment solutions for hazardous and nonhazardous liquids and solids; and Mobile Modular Portable Storage provides portable storage rental solutions. 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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CONTACT: Keith E. Pratt EVP & Chief Financial Officer 925-606-9200