January 31, 2024
Ann Arbor, MI – ModuGo (the “Company”) a portfolio company of Kinderhook Industries, LLC has completed the acquisition of Rent-A-Container, LLC (“RAC”). Based in King of Prussia, PA, RAC leases and sells new and used portable storage containers and container offices across the Northeast. RAC was founded by Brandon Dietrich who will remain with the business post-close in a leadership capacity. RAC is ModuGo’s third add-on acquisition since its recapitalization with Kinderhook in February 2023 – the financial terms of the transaction were not disclosed.
Post-closing of its acquisition of RAC, ModuGo will be launching the Rent-A-Container network. The formation of the Rent-A-Container network will enable the Company to leverage the regional presence of its existing established brands to create an integrated, nationwide service offering for its customers. ModuGo and its network of companies will provide their services under the Rent-A-Container brand, with each local operation supported by ModuGo’s best-in-class organizational infrastructure and technology.
This latest acquisition represents an important inflection point for the Company. “Over the past year, we have reached a stage where our growing number of locations combined with the ModuGo logistics software have given us the ability to service customers nationwide,” said ModuGo CEO Dan McMurtrie. “While we maintain several regional brands (such as A-1, Kelcon and RAC) this acquisition presents us with an opportunity to consolidate our resources to launch a single nationwide shipping container leasing enterprise under the “Rent-A-Container” name.” RAC will use the ModuGo Logistics Engine to optimize container selection – ensuring customers get the best price available for their unique needs.
“The RAC Network is the latest step in our plan to give customers a single nationwide provider of portable storage and containerized offices at competitive rates,” said Kinderhook Managing Director Rob Michalik. “As we continue to grow both organically and through acquisition, our customers will experience the same ease of doing business they have enjoyed over the years while having access to a nationwide optimized container selection tool to improve their experience.”
Crain, Caton & James served as legal counsel, and Alvarez & Marsal advised ModuGo on its financial diligence process. Comerica Bank provided financing for the transaction.
The Rent-A-Container Network is actively looking to grow. If you are interested in selling your business or your fleet of shipping container assets, please contact RAC’s Director of Mergers & Acquisitions Mike Ferrantino at [email protected].