B P Collins Solicitors: talk to the experts
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TRANSACTION REPORT
Mobile Mini, Inc., the world's leading provider of portable storage solutions, recently announced that it had completed its merger with Mobile Storage Group, Inc. of Glendale, California. As part of the closure of the transaction, Mobile Mini secured and entered into a new $900M asset based credit facility to fund the cash portion of the transaction, to fund the enlarged group going forward, and repay the Mobile Storage Group's existing indebtedness.
B P Collins corporate team acted as legal counsel for the UK subsidiaries in relation to the repayment of Mobile Storage Group's existing indebtedness in the UK and Luxembourg. The deal was challenging to the B P Collins corporate team as the release documentation was negotiated and closed across three jurisdictions within a very short period.
Commenting on the merger, Steven Bunger, Chairman, President & Chief Executive Officer of Mobile Mini stated: "The merger with Mobile Storage Group will benefit our customers, employees and stockholders by broadening our geographic base and allowing us to cover most major markets for portable storage in both the US and the UK. The addition of Mobile Storage Groups talented and experienced employees, as well as its significant resources, gives us a strategic advantage in servicing an expanded customer base."
Diane Gill comments: "The client's completion deadline meant that our involvement in the deal was quick and pressurised, but a pragmatic approach by all of the parties involved in the different jurisdictions helped us to complete the release on time."
The team:
Tim Walton, partner, corporate & commercial
Diane Gill, senior associate, corporate & commercial
Sue Deacon, senior associate, commercial property
