Mobile Mini (NASDAQ: MINI) is an American portable storage company based in Phoenix, Arizona, where it was founded in 1983. Their products provide temporary storage for customers such as small businesses.
The company manufactures, leases, sells, and transports welded steel cargo containers. These units are converted into storage units, guard shacks, and offices. The lengths of the units are 5 to 45 feet long. Customers customize with up to 100 different configuration options. Mobile Mini's lease fleet totals approximately 235,000 portable storage and office units.
The company has 136 locations throughout the United States, Canada and the United Kingdom. The company had a market capitalization of about US$580 million as of June 2010, with revenues of about $370 million in 2009. Mobile Mini has grown quickly in the 2000s because of a "diverse customer base, aggressive marketing and variety of storage containers".
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History
Mobile Mini, or Mobile Mini Storage Systems as it was first called, was founded in 1983, and start by selling storage containers to construction companies and manufacturers.
By 1986, the company expanded into markets outside Phoenix, but still in the Southwest. Due to a shortage of cargo storage containers available, Mobile Mini started manufacturing containers in Phoenix. The early 1990s also saw the development of Mobile Mini's patented "bi-cam locking system." As manufacturing facilities grew to accommodate new product lines and innovations, a larger facilities was created, and Mobile Mini started building modular classrooms for the Arizona and New Mexico markets. In addition to these innovations and changes, Mobile Mini experienced huge growth into Texas, including Dallas, Houston, and San Antonio, along with completing acquisitions in 1998, in Las Vegas and Oklahoma City.
The 2000s continued to experience phenomenal growth by diversifying the customer base and offering a wider product line. The next evolution locking system, the patented Tri-Cam Locking System, provided customers with the best security in the moving and storage industry. International expansion occurred in 2004 with the acquisition of Royal Wolf in the UK and the subsequent launch of the Mobile Mini Uk website, www.mobilemini.co.uk. In 2008, the company experienced a transformational merger with The Mobile Storage Group, giving Mobile Mini a combined portable storage and office rental fleet of more than 274,000 units.
In November 2014, Mobile Mini expanded its product line by purchasing Evergreen Tank Solutions for $405 million in cash. ETS was a leader in liquid and specialty containment solutions. With a fleet of tanks, truck, pumps, and filters, Evergreen was a solid acquisition with a similar business model.
In Spring 2015, Mobile Mini announced the decision to divest 9,400 wood mobile offices in a sale to Acton Mobile. The divestiture allows Mobile Mini to focus the core storage and containment products. Mobile Mini did keep its secure, ground level, office products.
February 2017, Mobile Mini announced the uniting of all divisions under the Mobile Mini brand. The storage and ground level office piece will be branded Mobile Mini Storage Solutions, while the specialty containment pieces made up of Evergreen Tank and Water Movers will be called Mobile Mini Tank + Pump Solutions. The overarching brand will be Mobile Mini solutions. This change allows the 30+ years of goodwill earned by Mobile Mini to be utilized in the geographic growth of the tanks and pump product line.
American Portable Mini Storage Video
Products
Storage Containers
Ground Level, Security Offices
Records Storage Units
Steel / Stainless Tanks
Roll-Off / Vacuum Boxes
Filtration Units
Pumps
Source of the article : Wikipedia
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