---
schema_version: "secwatch.filing_event.v1"
accession: "0001647088-24-000007"
form_type: "8-K"
ticker: "WSC"
cik: "0001647088"
company_name: "WillScot Holdings Corp"
filed_at: "2024-01-29T23:59:59+00:00"
generated_at: "2026-06-06T15:58:21.494917+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# WillScot Mobile Mini acquires McGrath RentCorp for $3.8B, $123 per share cash or stock

## Summary
- Deal valued at ~$3.8B; McGrath shareholders elect $123 cash or 2.8211 WSC shares per share, 60% cash/40% stock mix.
- Combined 2023 pro forma revenue of $3.2B, adjusted EBITDA of $1.4B; $50M in expected run-rate operating synergies.
- Expected to generate ~$700M annual free cash flow by end of first full year post-close; EPS accretive within 12 months.
- Financing includes $875M 8-year and $875M 5-year senior secured bridges plus $750M ABL upsize to $4.45B.
- Subject to McGrath shareholder approval, HSR clearance; termination fees of $180M (antitrust) or $120M (superior proposal).

## SEC filing metadata
- accession: 0001647088-24-000007
- form_type: 8-K
- ticker: WSC
- cik: 0001647088
- company_name: WillScot Holdings Corp
- filed_at: 2024-01-29T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1647088/000164708824000007/0001647088-24-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1647088/000164708824000007/wsc-20240129.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001647088-24-000007
- JSON: https://secwatch.observer/filing/0001647088-24-000007.json
- Plain text: https://secwatch.observer/filing/0001647088-24-000007.txt

## Key facts
- Material Agreements
  WillScot Holdings Corp entered into Agreement and Plan of Merger with McGrath RentCorp (effective 2024-01-28).
  - Action: entry
  - Agreement: merger
  - Counterparty: McGrath RentCorp
  - Effective: 2024-01-28
  source text: On January 28, 2024, WillScot Mobile Mini Holdings Corp., a Delaware corporation (the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) with McGrath RentCorp, a California corporation (“McGrath”), Brunello Merger Sub I, Inc., a California corporation and a direct wholly owned subsidiary of the Company (“Merger Sub I”), and Brunello Merger Sub II, LLC, a Delaware limited liability company and direct wholly owned subsidiary of the Company (“Merger Sub II”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1647088/000164708824000007/0001647088-24-000007-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.