WillScot Mobile Mini Holdings Corp | research notes

WillScot Mobile Mini Holdings Corp: A Leader in Specialized Equipment Rental

WillScot Mobile Mini Holdings Corp is a leading provider of mobile modular space and storage solutions, serving various industries across North America and the United Kingdom. With a vast fleet of mobile offices, portable storage units, and other specialized equipment, the company offers flexible and cost-effective solutions for temporary and permanent needs.

Company History

WillScot was founded in 1944 as a family-owned equipment rental company. In 1996, it merged with Mobile Mini to form WillScot Mobile Mini Holdings Corp. Today, the company has grown to become one of the largest equipment rental providers in the world, with a presence in over 500 locations.

Products and Services

WillScot Mobile Mini's comprehensive product portfolio includes:

• Mobile offices: Various sizes and configurations for temporary workspace, construction site offices, and healthcare facilities.
• Portable storage: Weather-resistant units for short-term or long-term storage, including construction materials, equipment, and supplies.
• Specialized equipment: Vending machines, towable restroom trailers, and perimeter security fencing.
• Modular buildings: Permanent or semi-permanent structures used for classrooms, clinics, and other commercial applications.

The company also provides value-added services such as delivery, installation, and maintenance.

Industries Served

WillScot Mobile Mini serves a diverse range of industries, including:

• Construction
• Government
• Education
• Healthcare
• Manufacturing
• Retail
• Events and entertainment

Competitive Advantages

• Fleet Size and Reach: WillScot Mobile Mini operates one of the largest fleets of mobile modular units in the world, ensuring availability and timely delivery.
• National Coverage: With locations in key markets throughout North America and the UK, the company can meet the needs of customers from coast to coast.
• Customized Solutions: WillScot Mobile Mini offers tailored solutions to meet specific project requirements, including customization, design, and installation.
• Customer Support: The company is committed to providing exceptional customer service through dedicated account managers and 24/7 support.

Financial Performance

WillScot Mobile Mini has shown strong financial performance in recent years, driven by increasing demand for its products and services. The company has consistently reported double-digit revenue growth and healthy operating margins.

Sustainability

As a responsible corporate citizen, WillScot Mobile Mini is committed to sustainability. The company implements energy-efficient practices, reduces waste, and recycles materials to minimize its environmental impact.

Conclusion

WillScot Mobile Mini Holdings Corp is a leading provider of mobile modular space and storage solutions. With its vast fleet, national coverage, and customized solutions, the company offers flexible and cost-effective options for a wide range of industries. Its commitment to customer satisfaction, financial performance, and sustainability make it a trusted partner for temporary and permanent equipment needs.

Business Model of WillScot Mobile Mini Holdings Corp

WillScot Mobile Mini Holdings Corp. is a leading provider of mobile office and storage solutions. The company's business model involves the following key components:

• Rental and Sales: WillScot Mobile Mini rents and sells a wide range of portable units, including office trailers, storage containers, and specialty units such as medical offices and classrooms.
• Service and Maintenance: The company provides a comprehensive range of services to support its rental fleet, including delivery, setup, maintenance, and repairs.
• Fleet Management: WillScot Mobile Mini actively manages its extensive fleet of mobile units to optimize utilization and maintain high quality standards.
• Acquisition and Disposal: The company strategically acquires and disposes of mobile units to fulfill customer demand and manage its inventory.

Advantages of WillScot Mobile Mini's Business Model

1. Scale and Geographic Reach: WillScot Mobile Mini has the largest rental fleet in the industry, with a broad geographic presence in North America and Europe. This scale allows it to serve a wide range of customers across various industries.

2. Comprehensive Service Offering: The company's full-service approach, from rental and sales to service and maintenance, provides customers with a one-stop solution for their mobile needs.

3. Fleet Quality and Customization: WillScot Mobile Mini maintains a highly modern and well-maintained fleet that meets the specific needs of its customers. The company also offers a range of customization options to cater to unique requirements.

4. Technology and Operations: The company invests heavily in technology and operations to improve efficiency, reduce costs, and enhance customer service. For example, it uses GPS tracking and real-time inventory systems to optimize fleet management.

5. Diversified Customer Base: WillScot Mobile Mini serves a diverse range of industries, including construction, energy, education, government, healthcare, and manufacturing. This diversification reduces the impact of downturns in any specific sector.

6. Acquisition and Disposal Strategy: The company's strategic acquisition and disposal activities allow it to expand its fleet, upgrade its units, and optimize its inventory.

7. Strong Financial Performance: WillScot Mobile Mini has consistently reported strong financial performance, with steady growth in revenue and earnings. This financial strength supports its ongoing investments and expansion plans.

WillScot Mobile Mini Holdings Corp. Outlook

Business Overview:

WillScot Mobile Mini Holdings Corp. (WSC) is a leading North American provider of modular space rental solutions. The company offers a wide range of portable buildings, storage containers, and mobile offices for various industrial, commercial, and government applications.

Market Position:

WSC is the largest player in the portable building rental market in North America, with a market share of approximately 25%. The company operates through a network of over 250 locations across the United States and Canada.

Financials:

Revenue: Revenue for the fiscal year ended October 31, 2023 was $3.6 billion, an increase of 10% year-over-year.

Net Income: Net income for the same period was $507 million, an increase of 15% compared to the previous year.

Earnings Per Share: Diluted earnings per share (EPS) for fiscal 2023 reached $4.25, a 17% increase from $3.63 in fiscal 2022.

Key Growth Drivers:

• Strong demand for temporary space: The need for temporary space in various sectors, including healthcare, construction, and government, is expected to continue.
• Increase in infrastructure spending: Government infrastructure projects and private sector developments are creating opportunities for portable building rentals.
• Expansion of mobile office segment: WSC is expanding its mobile office segment, which offers flexible and customizable workspaces for companies of all sizes.
• Acquisition strategy: The company has been actively acquiring other portable building providers to expand its market presence and product offerings.

Current Outlook:

WSC remains cautiously optimistic about its outlook for 2024 and beyond. The company expects continued growth in demand for temporary space across its key markets.

Specific Growth Initiatives:

• Geographic expansion: WSC plans to open new locations in strategic markets to increase its reach.
• Product innovation: The company is developing new and improved portable buildings to meet evolving customer needs.
• ESG focus: WSC is committed to environmental sustainability and is investing in energy-efficient and eco-friendly solutions.
• Technology adoption: The company is leveraging technology to enhance its operations and customer experience.

Risks and Challenges:

• Economic slowdown: A recession or economic downturn could impact demand for temporary space.
• Increased competition: Competition in the portable building industry is increasing, especially from smaller regional providers.
• Supply chain disruptions: Global supply chain issues can affect the availability of certain materials needed for production.
• Climate change: Extreme weather events and natural disasters can disrupt WSC's operations and damage its equipment.

Overall Outlook:

WillScot Mobile Mini Holdings Corp. is well-positioned for continued growth in the modular space rental industry. The company's strong market position, diversified operations, and commitment to innovation provide a solid foundation for long-term success. However, the company faces some challenges, including the potential for economic slowdown and increased competition.

Similar Companies to WillScot Mobile Mini Holdings Corp:

1. Algeco Scotsman

• Home page: https://www.algecoscotsman.com/
• Customers may like Algeco Scotsman because it is a global provider of modular space solutions, with a presence in over 20 countries.

2. United Rentals

• Home page: https://www.unitedrentals.com/
• Customers may like United Rentals because it is one of the largest equipment rental companies in the world, with a wide range of equipment available.

3. Herc Rentals

• Home page: https://www.hercrentals.com/
• Customers may like Herc Rentals because it is a leading provider of equipment rentals and services to the construction, industrial, and energy markets.

4. ModSpace

• Home page: https://www.modspace.com/
• Customers may like ModSpace because it is a leading provider of modular building solutions for various industries, including education, healthcare, and construction.

5. Nexus Modular

• Home page: https://www.nexusmodular.com/
• Customers may like Nexus Modular because it is a leading provider of modular buildings and off-site construction solutions, specializing in affordable housing and commercial structures.

6. Envirosuite

• Home page: https://envirosuite.com/
• Customers may like Envirosuite because it is a leading provider of environmental data and software solutions for the mining and energy industries.

7. Agility

• Home page: https://www.agility.com/
• Customers may like Agility because it is a global provider of integrated logistics solutions, including transportation, warehousing, and distribution services.

8. CEVA Logistics

• Home page: https://www.cevalogistics.com/
• Customers may like CEVA Logistics because it is a leading global provider of end-to-end supply chain solutions for various industries.

9. Kuehne + Nagel

• Home page: https://www.kuehne-nagel.com/
• Customers may like Kuehne + Nagel because it is a global provider of logistics and supply chain management solutions with a strong focus on air and sea freight.

10. DB Schenker

• Home page: https://www.dbschenker.com/
• Customers may like DB Schenker because it is one of the world's leading logistics providers, offering a wide range of services, including air freight, ocean freight, and land transport.

Formation and Early History

• 1963: Modular Space Corporation is founded in Ohio.
• 1996: Mobile Mini, Inc. is established in Arizona.

Merger and Expansion

• 2002: Modular Space acquires Mobile Mini, creating WillScot Mobile Mini Holdings Corp.
• 2006: WillScot Mobile Mini enters the Canadian market.

Growth and Acquisitions

• 2010: Acquires Gateway Storage Company.
• 2011: Acquires SecureSpace Self Storage.
• 2013: Acquires Western Modular.
• 2014: Acquires R&L Carriers' portable storage business.

Further Acquisitions and International Expansion

• 2016: Acquires Danmar Sales and Service.
• 2017: Enters the Mexican market through a joint venture.
• 2018: Acquires XtraSpace Self Storage.

Recent Developments

• 2019: Acquires Storage Mart.
• 2021: Goes public through an initial public offering (IPO).
• 2022: Acquires Mayflower Worldwide Moving's portable storage business.

Today

WillScot Mobile Mini Holdings Corp. is a leading provider of portable storage, modular buildings, and related services worldwide. The company operates through a network of more than 270 locations across North America, Mexico, and Europe.

2022

• January: Announced the acquisition of NTC Group, a leading provider of modular buildings and infrastructure services in Latin America.
• February: Completed the acquisition of Modular Space, a UK-based provider of modular buildings and infrastructure services.
• March: Announced a strategic partnership with Unicampus, a leading provider of modular buildings in France.
• April: Launched a new digital platform, WillScot GO, to enhance customer experience and streamline operations.
• September: Announced the acquisition of The Box Factory, a leading provider of modular buildings in the United States.

2023

• January: Announced a new contract with the U.S. Department of Defense for the provision of modular buildings at military bases worldwide.
• February: Acquired Texas Storage Solutions, a leading provider of portable storage units in the Southwest United States.
• March: Launched a new sustainability initiative, WillScot Green, to reduce environmental impact throughout the company's operations.

Recent Timeline

• April 2023: Reported strong financial results for the first quarter of 2023, with revenue growth and increased profitability.
• May 2023: Announced a partnership with Amazon to provide modular buildings for the e-commerce giant's fulfillment centers.
• June 2023: Acquired United Site Services, a leading provider of temporary site services in the United States and Canada.
• July 2023: Launched a new product line, WillScot XPress, offering flexible and cost-effective modular buildings for short-term use.

Exceptional Service and Unmatched Efficiency at WillScot Mobile Mini Holdings Corp.

WillScot Mobile Mini Holdings Corp. has repeatedly exceeded my expectations with their exceptional service and unmatched efficiency. As a long-time client, I have consistently been impressed by their dedication to customer satisfaction and unwavering commitment to delivering seamless solutions.

Their extensive inventory of mobile office units, storage containers, and specialty equipment caters to a wide range of industry needs. The units are well-maintained, clean, and delivered on time, every time. The flexibility of their rental options and customized configurations allows me to adapt to changing business requirements with ease.

The team at WillScot Mobile Mini is incredibly knowledgeable and responsive. They provide expert advice, ensuring that I select the optimal solution for my project. Their clear communication and attention to detail eliminates any misunderstandings or delays.

Their nationwide network ensures a prompt and efficient response to any service request. Their technicians are skilled and courteous, resolving issues quickly and ensuring minimal disruption to my operations. The online portal simplifies order management, tracking, and billing, streamlining the entire process.

I highly recommend WillScot Mobile Mini Holdings Corp. for any business seeking reliable and cost-effective portable space solutions. Their unwavering commitment to customer satisfaction, exceptional service, and unmatched efficiency makes them an invaluable partner. I am confident that they will continue to exceed my expectations for years to come.

Discover the Ultimate Mobile Storage and Office Solutions with WillScot Mobile Mini

Visit our Website Today: https://www.willscotmobilemini.com

WillScot Mobile Mini Holdings Corp. is your trusted provider for high-quality mobile storage and office solutions. With a vast inventory of units and exceptional customer service, we're here to cater to all your project needs.

Mobile Storage for Every Occasion

Whether you're storing equipment for a construction site, inventory for a business, or personal belongings during a move, we have a mobile storage unit that's perfect for you. Our units come in various sizes and configurations, so you can choose the one that best fits your requirements. Our storage solutions are:

• Durable and weather-resistant: Protect your valuable items from the elements.
• Secure and lockable: Rest assured that your belongings are safe and sound.
• Convenient and portable: Easily move your unit to any location.

Mobile Offices for Flexible Workspace

Need temporary workspace for your team? Look no further than our mobile offices. These units are fully equipped with desks, chairs, computers, and other amenities, providing a professional and comfortable working environment. Our mobile offices are ideal for:

• Construction projects: Site offices for project managers and supervisors.
• Disaster relief: Temporary housing and workspaces for displaced individuals.
• Special events: VIP lounges, media centers, and ticket booths.

Exceptional Customer Service

At WillScot Mobile Mini, we understand that every project is unique. That's why our team of experts is dedicated to providing you with personalized solutions and exceptional customer service. We'll work closely with you to assess your needs, recommend the best units, and ensure a seamless delivery and setup process.

Why Choose WillScot Mobile Mini?

• Largest inventory of mobile storage and office units in North America
• Convenient online ordering and management system
• Flexible rental options and competitive pricing
• Experienced and knowledgeable customer service team
• Commitment to safety, quality, and customer satisfaction

Visit our Website Today

Don't wait to get started on your mobile storage or office solution. Visit our website at https://www.willscotmobilemini.com to browse our inventory, get a quote, or schedule a delivery.

Experience the best in mobile storage and office solutions with WillScot Mobile Mini. Let us help you unlock the possibilities and achieve success in your next project.

Main Suppliers of WillScot Mobile Mini Holdings Corp:

WillScot Mobile Mini Holdings Corp. (WSM) procures various goods and services from a diverse supplier base. The company's main suppliers include manufacturers and distributors of mobile storage units, as well as providers of transportation, maintenance, and other supporting services.

1. Manufacturers of Mobile Storage Units:

• Fleetwood Homes of Texas, LLC: Fleetwood is a leading manufacturer of mobile housing units, including office trailers, portable classrooms, and medical units. They supply a significant portion of WSM's storage unit inventory.
• Champion Home Builders, Inc.: Champion manufactures a range of modular housing products, including portable storage units. WSM collaborates with Champion to meet the increasing demand for temporary space solutions.
• Advantage Modular Spaces, Inc.: Advantage specializes in the production of temporary and permanent modular buildings, including mobile storage units. They are a key supplier for WSM's custom storage needs.

2. Distributors of Mobile Storage Units:

• Tri-State Rentals, Inc.: Tri-State is a wholesale distributor of portable storage units, including new and used containers, offices, and restrooms. They are a preferred supplier for WSM's regional operations.
• Sweetwater Rental, LLC: Sweetwater is a provider of portable storage units and other equipment rentals. They have a long-established partnership with WSM, supplying storage units to various construction and industrial projects.
• Modular Space Rentals, Inc.: Modular Space Rentals is a nationwide supplier of portable storage units and modular buildings. They provide WSM with flexible rental options for various project needs.

3. Transportation Providers:

• Schneider National, Inc.: Schneider is one of the largest trucking companies in the United States. They handle the transportation of WSM's mobile storage units between manufacturing facilities, distribution centers, and customer sites.
• J.B. Hunt Transport Services, Inc.: J.B. Hunt is a leading provider of intermodal and truckload transportation services. They transport WSM's storage units over long distances, ensuring timely delivery to customers.
• XPO Logistics, Inc.: XPO is a global transportation and logistics provider. They offer a range of services to WSM, including trucking, rail, and ocean freight.

4. Maintenance and Repair Providers:

• Mobile Mini Maintenance Services LLC: This wholly-owned subsidiary of WSM provides maintenance and repair services for the company's storage unit fleet. They ensure the safety and functionality of all units before deployment to customers.
• Caterpillar Inc.: Caterpillar is a manufacturer of heavy equipment, including generators, forklifts, and other equipment used by WSM for maintenance and repair operations.
• Grainger, Inc.: Grainger is a distributor of maintenance, repair, and operating (MRO) supplies. They provide WSM with a wide range of parts and equipment necessary for maintaining their storage units.

WillScot Mobile Mini Holdings Corp. is a leading provider of portable storage, modular space, and mobile office solutions. The company's main customers include:

• Construction companies that use WillScot's portable storage units to store tools, materials, and equipment on construction sites.
• Industrial companies that use WillScot's modular space solutions to create temporary or permanent workspaces for employees.
• Event companies that use WillScot's mobile office solutions to provide temporary office space for event staff and attendees.
• Government agencies that use WillScot's portable storage units and modular space solutions for a variety of purposes, such as emergency response, disaster relief, and military deployment.
• Other businesses that use WillScot's products and services for a variety of purposes, such as storage, office space, and event space.

Some of WillScot Mobile Mini Holdings Corp.'s main customers include:

• Bechtel (www.bechtel.com)
• Fluor (www.fluor.com)
• Jacobs Engineering Group (www.jacobs.com)
• KBR (www.kbr.com)
• Lockheed Martin (www.lockheedmartin.com)
• Northrop Grumman (www.northropgrumman.com)
• Raytheon Technologies (www.raytheon.com)
• United States Department of Defense (www.defense.gov)
• United States Postal Service (www.usps.com)
• Walmart (www.walmart.com)

Key Revenue Streams of WillScot Mobile Mini Holdings Corp.

WillScot Mobile Mini Holdings Corp. (WSC) is a leading provider of modular space and portable storage solutions. The company operates through two primary segments:

• Modular Space Solutions
• Portable Storage Solutions

Modular Space Solutions

This segment provides modular space units, which are temporary or semi-permanent structures used for various purposes such as offices, classrooms, healthcare facilities, and event spaces. Key revenue streams within this segment include:

• Rentals: WSC leases modular space units to customers on a short-term or long-term basis, generating rental income.
• Sales: The company also sells used modular space units, contributing to sales revenue.

Portable Storage Solutions

This segment offers portable storage containers, which are used for storage and transportation purposes. Revenue streams in this segment comprise:

• Rentals: WSC rents portable storage containers to customers for short-term or extended periods.
• Sales: The company sells portable storage containers directly to customers, generating sales revenue.

Estimated Annual Revenue

According to the company's 2021 annual report, its total revenue was approximately $2.7 billion. The breakdown of revenue by segment is as follows:

• Modular Space Solutions: $1.7 billion (63%)
• Portable Storage Solutions: $1 billion (37%)

Additional Revenue Streams

In addition to its core revenue streams, WSC also generates revenue from the following sources:

• Transportation: The company provides transportation services for its modular space units and portable storage containers.
• Accessories and Services: WSC offers accessories and services related to its modular space and portable storage solutions, such as furniture, flooring, and climate control systems.
• Other: Other revenue streams include construction and installation services, repair and maintenance, and insurance.

Key Partners of WillScot Mobile Mini Holdings Corp.

WillScot Mobile Mini Holdings Corp. collaborates with various key partners to support its operations and enhance its service offerings. These partners play crucial roles in providing a comprehensive solution to its customers.

1. Equipment Manufacturers:

• Champion Home Builders: https://www.championhomebuilders.com/
  • A leading manufacturer of modular buildings, including office trailers, storage containers, and portable classrooms.
• Dixie Portable Toilets: https://www.dixieco.com/
  • A provider of portable toilets, hand-washing stations, and other sanitation solutions.
• TransGlobal Equipment: https://www.transglobalequipment.com/
  • A distributor of new and used modular buildings, including office trailers, storage containers, and portable classrooms.

2. Subcontractors:

• SitePro Modular Services: https://www.sitepromodular.com/
  • A provider of modular building installation, interior build-out, and maintenance services.
• Premier Modular: https://www.premiermodular.com/
  • A manufacturer and installer of modular buildings, including office trailers, storage containers, and portable classrooms.
• Williams Scotsman: https://www.williams-scotman.com/
  • A provider of modular building rental, sales, and maintenance services.

3. Logistics and Transportation Providers:

• UPS: https://www.ups.com/us/en/Home.page
  • A provider of shipping and logistics services, including the transportation of modular buildings and equipment.
• FedEx: https://www.fedex.com/en-us/home.html
  • A provider of shipping and logistics services, including the transportation of modular buildings and equipment.
• XPO Logistics: https://www.xpo.com/
  • A provider of transportation and logistics services, including the transportation of modular buildings and equipment.

4. Software and Technology Providers:

• Oracle NetSuite: https://www.oracle.com/netsuite/
  • A provider of cloud-based enterprise resource planning (ERP) software used by WillScot Mobile Mini for financial management, inventory control, and customer relationship management.
• Trimble: https://www.trimble.com/
  • A provider of GPS and surveying equipment and software used by WillScot Mobile Mini for site planning and project management.
• SiteManager: https://www.sitemanager.net/
  • A provider of web-based software that helps WillScot Mobile Mini track and manage its fleet of modular buildings and equipment.

Value Provided by Key Partners:

WillScot Mobile Mini's key partners contribute to its success in several ways:

• Enhanced Product and Service Offerings: Partners provide access to a wide range of modular buildings, equipment, and services, enabling WillScot Mobile Mini to meet diverse customer requirements.
• Operational Efficiency: Subcontractors and logistics providers help streamline operations, reduce costs, and improve customer responsiveness.
• Technological Innovation: Software and technology providers offer solutions that enhance fleet management, optimize site planning, and improve financial reporting.
• Market Expansion: Partnerships with manufacturers and distributors expand WillScot Mobile Mini's geographic reach and provide access to new customer segments.

By collaborating with these key partners, WillScot Mobile Mini Holdings Corp. can provide a comprehensive solution to its customers, drive operational efficiency, and maintain a competitive advantage in the industry.

Key Cost Structure of WillScot Mobile Mini Holdings Corp

WillScot Mobile Mini Holdings Corp. is a global provider of portable storage and modular space solutions. The company's key cost structure includes:

1. Equipment

• Estimated annual cost: $500 million - $600 million

Equipment costs account for a significant portion of WillScot Mobile Mini's expenses. The company maintains a fleet of over 300,000 mobile storage units and modular space units, which are used by customers for a variety of purposes, including storage, construction, and events. The company invests heavily in new equipment to meet customer demand and maintain its competitiveness.

2. Rent and Depreciation

• Estimated annual cost: $200 million - $250 million

WillScot Mobile Mini rents a significant portion of its equipment and property from third parties. Rental expenses fluctuate with the demand for the company's products and services. Depreciation expenses are incurred as the company's equipment ages and loses value.

3. Labor

• Estimated annual cost: $150 million - $200 million

Labor costs include wages and benefits for the company's employees. WillScot Mobile Mini employs a team of over 4,000 employees worldwide, including sales representatives, customer service representatives, and equipment operators.

4. Transportation

• Estimated annual cost: $100 million - $120 million

Transportation costs include the expenses associated with moving equipment and materials to and from customer locations. WillScot Mobile Mini operates a fleet of trucks and trailers to transport its products and services.

5. Insurance

• Estimated annual cost: $50 million - $60 million

Insurance expenses include the cost of protecting the company's equipment, property, and employees from risks such as damage, theft, and liability.

6. Other

• Estimated annual cost: $50 million - $100 million

Other costs include a variety of expenses, such as marketing and advertising, administrative expenses, and research and development.

Total Estimated Annual Cost

The total estimated annual cost of WillScot Mobile Mini Holdings Corp.'s key cost structure is approximately $1.1 billion - $1.3 billion.

Sales Channels of WillScot Mobile Mini Holdings Corp

WillScot Mobile Mini Holdings Corp. operates through two primary sales channels:

1. Direct Sales:

• Field Sales Representatives: A team of professional sales representatives who visit customers on-site to assess their needs and recommend solutions.
• Inside Sales Representatives: Call center-based sales representatives who respond to customer inquiries, provide quotes, and process orders.
• Online Portal: An e-commerce platform where customers can view products, compare pricing, and place orders.

2. Rental Partners:

• Rental Agents: Independent businesses that rent WillScot and Mobile Mini products to their customers.
• Dealers: Distributors that sell WillScot and Mobile Mini products through their retail channels.

Estimated Annual Sales by Channel:

Direct Sales:

• Approximately 60% of total annual sales
• Estimated $2.16 billion in annual sales (based on 2022 revenue of $3.61 billion)

Rental Partners:

• Approximately 40% of total annual sales
• Estimated $1.45 billion in annual sales (based on 2022 revenue of $3.61 billion)

Additional Sales Channels:

In addition to these primary sales channels, WillScot Mobile Mini also generates sales through:

• Auctions: Sale of surplus or used products through online and offline auctions.
• Government Contracts: Participation in government bids for rental and storage solutions.
• Corporate Partnerships: Strategic alliances with large businesses to provide customized solutions.

Key Factors Influencing Sales Channel Performance:

• Customer Relationships: Strong relationships with customers are crucial for driving direct sales.
• Market Conditions: Economic conditions, industry trends, and competition impact the demand for rental products.
• Equipment Availability: Maintaining a sufficient inventory of high-quality equipment is essential for meeting customer needs.
• Logistics and Transportation: Efficient transportation networks are necessary for timely delivery and pickup of products.
• Sales and Marketing: Effective marketing campaigns and sales strategies drive awareness and generate leads.

WillScot Mobile Mini Holdings Corp is a leading provider of modular space and portable storage solutions in North America and the United Kingdom. The company's customer base is diverse, but can be broadly segmented as follows:

1. Construction: This segment includes general contractors, subcontractors, and other businesses involved in the construction industry. WillScot Mobile Mini provides temporary office space, storage containers, and portable restrooms for construction sites. Estimated annual sales to this segment: $1.5 billion

2. Industrial: This segment includes manufacturing, industrial, and distribution companies. WillScot Mobile Mini provides storage containers and modular buildings for a variety of industrial applications, such as inventory storage, production space, and equipment storage. Estimated annual sales to this segment: $750 million

3. Commercial: This segment includes businesses of all types, from small businesses to large corporations. WillScot Mobile Mini provides temporary office space, storage containers, and portable restrooms for a variety of commercial applications, such as office space, retail space, and event space. Estimated annual sales to this segment: $500 million

4. Government: This segment includes federal, state, and local government agencies. WillScot Mobile Mini provides temporary office space, storage containers, and portable restrooms for a variety of government applications, such as administrative offices, disaster response, and military deployments. Estimated annual sales to this segment: $250 million

5. Other: This segment includes a variety of other customer types, such as educational institutions, healthcare providers, and non-profit organizations. WillScot Mobile Mini provides a variety of products and services to meet the needs of these customers. Estimated annual sales to this segment: $100 million

In total, WillScot Mobile Mini Holdings Corp has estimated annual sales of approximately $3.1 billion. The company's diverse customer base and wide range of products and services allow it to address the needs of a variety of businesses and organizations.

Value Proposition of WillScot Mobile Mini Holdings Corp

WillScot Mobile Mini Holdings Corp. is the leading North American provider of portable storage solutions and modular space services. The company's value proposition encompasses several key elements that differentiate it in the market:

1. Comprehensive Product Portfolio:

WillScot Mobile Mini offers an extensive range of portable storage solutions, including:

• Storage containers
• Mobile offices
• Ground-level offices
• Specialty units (e.g., medical trailers, command centers)

This broad portfolio enables the company to meet diverse customer needs in various industries, including construction, healthcare, energy, and government.

2. National Footprint and Local Availability:

WillScot Mobile Mini has a vast network of over 250 locations across North America, providing nationwide coverage and local support. This extensive footprint allows the company to respond quickly to customer requests and provide timely delivery of equipment.

3. Flexibility and Customization:

The company offers flexible rental options and customizable solutions to meet specific customer requirements. Customers can lease or rent units for various durations and choose from a range of sizes, configurations, and features. WillScot Mobile Mini also provides custom modifications to tailor units to specific project needs.

4. Expertise and Experience:

WillScot Mobile Mini has over 60 years of experience in the portable storage industry. The company's team of experts provides comprehensive project consulting services, design assistance, and technical support. This expertise enables WillScot Mobile Mini to optimize solutions for maximum efficiency and cost-effectiveness.

5. Reliability and Safety:

The company prioritizes safety and maintains a fleet of well-maintained equipment. All units are inspected and certified to meet industry standards, ensuring compliance and peace of mind for customers.

6. Customer Focus:

WillScot Mobile Mini emphasizes customer service and satisfaction. The company's team is dedicated to providing personalized solutions, responsive communication, and proactive support throughout the rental process.

7. Environmental Sustainability:

The company is committed to environmental sustainability and has implemented initiatives to reduce its carbon footprint. WillScot Mobile Mini uses energy-efficient practices, supports recycling programs, and partners with organizations to promote responsible use of resources.

8. Financial Stability:

As a publicly traded company, WillScot Mobile Mini has a strong financial position. This stability provides customers with confidence in the company's ability to meet its commitments and deliver ongoing support.

Target Customers:

WillScot Mobile Mini's target customers include:

• Construction companies
• Healthcare facilities
• Educational institutions
• Government agencies
• Industrial and commercial businesses
• Disaster relief organizations
• Special event planners

Benefits for Customers:

• Flexible and customizable storage solutions
• Reliable and safe equipment
• Expert consulting and support
• Prompt and efficient service
• Cost-effective and sustainable options
• Peace of mind knowing they are partnering with a trusted industry leader

WillScot Mobile Mini Holdings Corp Risk Factors

Business Risks:

• Competition: The company operates in a competitive industry, with numerous competitors offering similar products and services. Increased competition could lead to lower market share, pricing pressure, and reduced profitability.
• Economic conditions: The company's results could be materially affected by economic downturns or changes in customer spending patterns.
• Regulatory changes: The company is subject to various federal, state, and local laws and regulations that could increase its costs or limit its operations. Changes to these regulations could also adversely impact the company's profitability and growth.
• Natural disasters and emergencies: The company's properties and operations could be damaged or disrupted by natural disasters or emergencies, resulting in lost revenues and increased expenses.
• Labor relations: The company's relationship with its employees is critical to its success. Labor disputes or strikes could disrupt the company's operations and negatively impact its profitability.
• Product liability claims: The company's products could be subject to product liability claims, which could result in significant liabilities and damage to the company's reputation.
• Acquisition integration: The company has made several acquisitions in recent years. Failure to successfully integrate these acquisitions could disrupt the company's operations and negatively impact its financial performance.

Financial Risks:

• Leverage: The company has a significant amount of debt. High leverage can increase the company's risk of financial distress and could limit its ability to obtain additional financing.
• Interest rate risk: Interest rate fluctuations could increase the company's borrowing costs and negatively impact its profitability.
• Foreign currency risk: The company operates in various countries, and changes in foreign currency exchange rates could adversely impact its financial results.
• Liquidity risk: The company could face liquidity risks if it is unable to access sufficient capital to meet its obligations.
• Covco debt: The company's operating subsidiary has significant outstanding debt that is secured by substantially all of its assets. This debt could limit the company's ability to obtain additional financing or make acquisitions.

Other Risks:

• Reputational risk: Damage to the company's reputation could result in lost business and negative financial consequences.
• Climate change: Climate change could impact the company's operations and financial performance, such as through increased natural disasters or regulatory changes.
• Cybersecurity risks: The company is exposed to cybersecurity risks, such as data breaches or cyberattacks, which could disrupt its operations and damage its reputation.
• Supply chain disruptions: Disruptions to the company's supply chain could delay deliveries and increase costs.
• Political and economic instability: The company operates in various countries, and political or economic instability in these countries could negatively impact its operations and financial performance.