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Allen & Overy's U.S. team advise on WillScot and Mobile Mini merger, creating an American leader in modular space and portable solutions

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Schwitter William
William Schwitter

Partner

New York

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Pellegrino Jeffrey
Jeffrey Pellegrino

Partner

New York

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Troy Beth
Beth Troy

Partner

New York

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Frogel Judah
Judah Frogel

Partner

New York

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Travis Sarah
Sarah Travis

Senior Counsel

New York

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Homer Jonathan
Jonathan Homer

Senior Counsel

New York

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01 July 2020

Allen & Overy’s U.S. M&A, capital markets and leveraged finance teams represented WillScot Corporation [NASDAQ:WSC], a leading specialty rental services provider of innovative modular space and portable storage solutions across North America, in its combination with Mobile Mini, Inc. [NASDAQ:MINI], a leading provider of portable storage solutions serving customers in the United States, United Kingdom and Canada, which took the form of a stock-for-stock merger.

The transaction closed on July 1, 2020, and in connection with the merger WillScot changed its name to WillScot Mobile Mini Holdings Corp. and will continue to trade on Nasdaq under the ticker symbol “WSC.” A&O advised on all aspects of the merger, including financing, SEC and antitrust matters. In connection with the transaction, A&O advised WillScot, through its subsidiary, Williams Scotsman International, Inc., on the issuance of USD650 million in aggregate principal amount of senior secured notes due 2025 and financing commitments for and entry into a new USD2.4 billion asset-based revolving credit facility. The proceeds from the notes offering together with USD1.4 billion of borrowings under the new credit facility were used to pay fees and expenses related to the transaction and to repay WillScot’s and Mobile Mini’s existing asset-based credit facilities, WillScot’s senior secured notes due 2022 and all of Mobile Mini’s outstanding senior notes.

A&O’s M&A deal team was led by New York partners Bill Schwitter and Beth Troy, and its financing and capital markets teams were led by New York partners Jeff Pellegrino and Judah Frogel and Senior Counsel Sarah Travis and Jonathan Homer. The transaction also involved leveraging Allen & Overy’s global expertise across a variety of specialist areas.

“Creating a market leader by combining separate publicly-traded entities takes multi-disciplinary expertise, coordination and collaboration, which are hallmarks of the Allen & Overy ethos,” said Bill Schwitter. “It has been a pleasure to work with the WillScot team at each stage of the transaction, and deliver a positive outcome for both WillScot and Mobile Mini, notwithstanding the challenging macro environment.”