July 24, 2023

Ann Arbor, MI – ModuGo (“ModuGo” or the “Company”) a portfolio company of Kinderhook Industries, LLC has completed its first acquisition since its recapitalization by Kinderhook in February 2023. On July 7, 2023, ModuGo acquired Michigan-based A1 Mobile Storage Leasing LLC (“A1 Mobile”), which was founded in 1997 by Bill Moore. Based in Saginaw, Michigan, A1 Mobile provides new and used portable storage containers for rent or sale primarily to the retail and construction end markets in Michigan. Financial terms of the transaction were not disclosed.

“Our team is thrilled to partner with A1 Mobile as we seek to build out our operations in the Midwest and beyond,” said ModuGo COO Dave McMurtrie. “A1 Mobile’s strong track record of service, along with their dedicated customer base, makes them the ideal partner to help us expand our footprint in the region. We are excited about the great partnership ahead.”

To enhance its service offerings to both B2B and B2C customers, ModuGo plans to develop a branch-based network to stock owned container fleet, supported by localized transportation assets in regional hubs. This strategy will enable the Company to provide support to its customer base across the United States. A1 Mobile’s Saginaw, MI location will serve as ModuGo’s first dedicated branch, with further expansion planned for the near future. As part of the acquisition, ModuGo has also acquired Total Transportation, a hauling operation affiliated with A1 Mobile that provides delivery and pickup services through its owned trucking assets. Bill Moore, the founder of A1 Mobile, will remain involved with the business as an investor and in a consulting capacity post-close to facilitate a smooth transition.

“For over 25 years, A1 Mobile has prided itself on delivering high-quality service with a personalized touch to customers across Michigan and surrounding areas. We are pleased to partner with an organization that shares our values and look forward to growing our offering with the support of the ModuGo team,” says Moore.

“We are excited to take the first major step in building a leading provider of portable storage solutions,” said ModuGo CEO Dan McMurtrie, “A1 Mobile possesses a well-maintained fleet and deep relationships in the region that will accelerate ModuGo’s growth trajectory. We hope to use this transaction as a catalyst for both add-on acquisition activity and organic greenfield growth.”

Akin, Gump, Strauss, Hauer, and Feld served as legal counsel, and Alvarez and Marsal advised ModuGo on its financial due diligence process.

For additional information about this transaction, please contact: 
Robert Michalik
Managing Director
(212) 201-6789
[email protected]
 
Sam Keenan
Principal
(212) 201-6795
[email protected]