Phoenix, Arizona-based Mobile Mini, Inc. is the globe’s foremost supplier of portable storage solutions. In addition, in the U.S., the Company is a leading provider of specialty containment solutions, by way of its wholly-owned subsidiary, Evergreen Tank Solutions. Mobile Mini operates in the Packaging & Containers industry in the Consumer Goods sector. The Company continues to work at implementing new initiatives via its Lean Six Sigma program and increased efforts to become a green enterprise.
Mobile Mini has a total rental fleet of around 206,700 portable storage containers and office units. Regarding its specialty containment solutions, the Company has a rental fleet of roughly 12,000 units. Its network consists of 159 locations in the United States, Canada, and the United Kingdom. Mobile Mini’s portable units provide storage and office space solutions to roughly 84,000 customers.
Mobile Mini’s specialty containment services consist of transportation of containers for waste management; provision of waste management oversight and services; system design (comprising the assessment of pumping, filtration, and temporary storage needs); and field services to install and connect customer containment equipment.
Mobile Mini’s self storage containers, shipping containers, and mobile offices are available for purchase or rent. Mobile Mini, this year, purchased the assets and operations of portable storage provider, Swinglift USA (of Dallas, Texas). Swinglift USA has a fleet of about 1,560 rental containers.
Regarding its patented locking system, the Premium Tri-Cam Locking System® provides bank vault security for precious valuables and very important documents. Mobile Mini provides strong, all-steel, secure storage units. The Company’s ContainerGuard Lock® features a hidden six-piston tumbler system. Its ContainerGuard Lock® is constructed from 100% hardened steel. It is virtually drill resistant and also features a hidden sheath and hardened steel pins.
Mobile Mini’s storage solutions include on-site storage in lengths ranging from 10′ to 40′ and an industry unique width of 10′. This is in addition to the standard 8′ wide. Mobile Mini provides different portable storage and office products, including steel storage containers and steel ground level offices.
Concerning its Premium Storage Containers, doors can be placed at the front, front and back, or the sides of containers. Other options include partitions and shelving.
Mobile Mini’s Evergreen Tank Solution subsidiary provides refining, chemical and environmental clients with containment products in configurations that include roll-tarp boxes, vacuum boxes, metal-lid boxes and dewatering boxes. Evergreen Tank Solutions and its subsidiary, Water Movers, provides a broad assortment of pump options differentiated by size and power. These pumps meet the requirements of clients in the municipal, refinery, construction and utility industries.
Mobile Mini reported its Q2 2016 results this past July. Highlights include the Company increasing portable storage rental revenues 4.7% year-over-year. This excludes the divested wood mobile office business. In June 2016, Mobile Mini attained all-time high monthly portable storage core activations. In addition, the Company grew portable storage rental rates by 1.6% year-over-year and 0.7% over Q1 2016. Moreover, rates on new rentals increased 2.6% year-over-year.
Furthermore, Mobile Mini propelled portable storage utilization to an average of 68.4% during Q2 2016 and to 69.4% as of quarter-end. The Company realized adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) of $43.4 million, with an adjusted EBITDA margin of 35.1%.
For the year ended December 31, 2015, Mobile Mini had rental revenues representing about 93% of its total revenues. The Company’s primary emphasis is on renting its units.
Mobile Mini has a national presence with local service. The Company has invested considerable capital developing a national network of locations. These locations serve most major metropolitan areas in the United States and the United Kingdom. The Company’s nationwide footprint enables it to offer its products to larger customers who desire to centralize the obtaining of portable storage and specialty containment products on a multi-regional or national basis.