Kinderhook Industries, LLC entered into a definitive agreement to acquire Gulf Tanks Holdings, Inc. from Mobile Mini, Inc. for approximately $320 million on August 19, 2022. Financing for the transaction was provided by a debt syndicate led by Twin Brook Capital Partners. Eric John, Senior Vice President of the Tank and Pump segment, will serve as the Chief Executive Officer of the newly independent business.

The transaction is expected to close in the third quarter of 2022. The transaction is subject to customary closing conditions and regulatory approval. Proceeds from the sale will be used to support ongoing reinvestment in the Company's core Modular and Storage operating segments and other capital allocation priorities.

Oppenheimer & Co. served as the exclusive financial advisor and Kirkland & Ellis LLP served as legal counsel to Kinderhook. BofA Securities served as the exclusive financial advisor and Noah Brumfield, John Hibbard, Brian Jebb, Sam Kamyans, Keren Livneh, Gordon Mak, Natalie Montano Young, Jeffrey J Pellegrino, Ken Rivlin, William Schwitter, Soumya Sharma , Adam Sofen, Beth Troy of Allen & Overy LLP acted as legal counsel to WillScot Mobile Mini Holdings in connection with the transaction.