Rent-A-Container in Ann Arbor, which manages a fleet of more than 25,000 shipping containers, semi-trailers, and ground level offices, and a portfolio company of Kinderhook Industries, has acquired one of its competitors, The Eagle Leasing Co. in Connecticut.
Terms of the deal were not disclosed.
Founded in 1967, Eagle Leasing provides portable storage containers, ground level offices, semi-trailers, and mobile office solutions throughout the Northeast, including across New England as well as parts of New York and New Jersey.
The combination of Rent-A-Container and Eagle, the companies state, creates one of the largest independent portable storage and ground level office leasing networks in the United States.
With more than 25,000 units in its rental fleet and 200-plus employees, the combined company has 18 branch locations serving the East Coast, South, and Midwest markets.
“We are proud of what Eagle Leasing has built over several generations and are thrilled to partner with Kinderhook and Rent-A-Container to drive Eagle’s next chapter of growth,” says Louis Eagle, president of Eagle Leasing. “This transaction expands the opportunity for our employees, for our customers, and for the Eagle brand.”
Several members of the Eagle family will remain with the business to support continued growth, including:
- Matthew Eagle, vice president, and former chairman of the board of the National Portable Storage Association
- Michael Eagle, vice president of sales
- Brandon Eagle, vice president of operations and marketing
“We are incredibly excited to execute this transformative acquisition,” says Dan McMurtrie, CEO of Rent-A-Container. “Eagle is one of the most trusted brands in the portable storage industry. This acquisition not only cements RAC’s market presence in the Eastern region, but also deepens our bench of leadership and operating talent.”
The buyers were represented by Sidley Austin and Greenberg Traurig on legal matters, and by Alvarez & Marsal for business diligence. The sellers were represented Mintz, Levin, Cohn, Ferris, Glovsky and Popeo on legal matters, while Houlihan Lokey and Corporate Partners served as financial advisors.
Comerica Bank, Huntington Bank, and Key Bank led the various required credit facilities.
“Eagle’s quality asset base and entrenched market presence make this acquisition a tremendous opportunity for Rent-A-Container. The company is well positioned to service customers and strengthen market share as it looks to build further density across the East Coast,” says Rob Michalik, managing director at Kinderhook.
Founded in 2003, Kinderhook Industries is a private investment firm that has raised $8.5 billion of committed capital, and has made in excess of 500 investments and follow-on acquisitions since inception.
Rent-A-Container’s brands include Eagle Leasing, ModuGo, A-1 Portable Storage, Stuff-It Storage, Fortin Modular Storage, and Kelcon.
For more information, visit: rentacontainer.com.
