$700 Million Acquisition Approved, Vaulting Storage Leasing Company Into Market Leadership
Client: $1 Billion International Storage Solutions Group
Challenge: Expedite a Large, Fast-Track Appraisal
A public company that manufactures, retrofits and leases temporary mobile storage and mobile offices was growing rapidly through mergers and acquisitions - even in the midst of a sluggish business climate. The firm, which serves customers in the United States, Canada and the United Kingdom, was making a bid to acquire a very large mobile storage competitor. The proposed acquisition was valued at more than $700 million. At the time of the acquisition, the acquiring company had a market capitalization of approximately $550 million. Needing an appraisal within a tight deadline for its largest acquisition in the history of the firm, the company turned to AccuVal.
AccuVal Approach
With the reporting deadline looming, AccuVal went to work quickly. Our appraisers worked nights, weekends and holidays. In addition to assembling comprehensive market information to provide the underlying basis for its value conclusions, AccuVal agreed to examine and evaluate the acquired company's fleet and provide its opinion about the quality of the rolling stock included in the proposed merger.
Bottom Line: Financial Reporting Deadline Met; Acquisition Successfully Completed
AccuVal delivered a fully-documented narrative appraisal on time which allowed the company to file its quarterly financing report on time. The acquisition was subsequently approved. As a result of the merger, the company became one of the largest providers of temporary storage and office solutions in the markets served.
The AccuVal AdVantage™
Deep experience in asset valuations for financial reporting purposes. Unmatched expertise in the mobile storage and temporary office industry. The ability to complete huge engagement with tight deadlines on time. A stellar global reputation with major investors, money-center banks, venture capitalists and financial syndicators. That's The AccuVal AdVantage™ at work.
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