Prophet Equity II LP, a lower- and middle market-focused private equity firm headquartered in Southlake, has acquired modular rental and storage business Acton Mobile. Terms of the transaction were not disclosed.
Founded in 1968, Acton Mobile is a Baltimore-based provider of modular space and portable storage rental solutions to the construction, commercial, education, health care and government markets. Acton offers rental, delivery, setup, and maintenance services, pick up of temporary mobile offices, and the sale of both new and used units. The company has a fleet of more than 10,000 units and a branch network of 22 locations in 12 states. According to Brian Hegi, senior principal of Prophet Equity, the acquisition positions the company for growth in the Gulf Coast, Southeast, Mid-Atlantic and Midwest markets.
“I knew the minute we met the Prophet Equity team that we had a great fit with an ideal partner,” said Ingrid West, president of Acton Mobile. “This transaction will provide Acton Mobile with the necessary resources and capital to grow the core business, while also facilitating strategic expansion in new markets where we see ample opportunity.” Over the last 15 years, Prophet Equity’s principals have invested and managed more than $2 billion of value creation with more than $4 billion in revenue.
Betty Dillard bdillard@bizpress.net