Another Acquisition in the Books for Pac-Van
INDIANAPOLIS - Indianapolis-based Pac-Van Inc. is continuing growth efforts with its fourth acquisition in just over a year. The company has acquired the assets of California-based Instant Storage, though financial details were not released.
The deal includes the storage container, storage trailer, and office container assets of Instant Storage, which also has a location in Miami, Florida. Jody Miller, chief executive officer of Pac-Van parent General Finance Corp. (Nasdaq: GFN), says 14 Instant Storage employees will be added to the Pac-Van team.
"The acquisition of the assets of Instant Storage provides Pac-Van with more than 2,200 additional fleet rental units," said Miller. "With these newly acquired assets, we are able to achieve increased market penetration into both the Central Valley region and the greater Los Angeles area of Southern California, as well as in Miami and the south Florida region, building upon our market share while continuing to deliver highly valued and convenient portable storage and office space solutions."
Last month, Pac-Van announced it had acquired the assets of Maryland-based Delmarva Trailer Sales and Rentals Inc. That deal followed the acquisitions of Texas-based Advantage Trailer LLC's storage and office container fleets, as well as the storage container, office container and mobile office rental fleet of Louisiana-based Gauthiers' On-Site Storage, which occurred in September and December 2017, respectively.