Rent-A-Container acquires Connecticut portable storage company

Rent-A-Container (RAC), an Ann Arbor, Michigan-based portfolio company of Kinderhook Industries LLC, has acquired The Eagle Leasing Co. (Eagle), a provider of portable storage containers, ground-level offices, semitrailers and mobile office solutions throughout the northeast U.S.

Founded in 1967, Eagle has a deep history and long-standing reputation as a premier brand in the portable storage industry with deep roots across New England as well as parts of New York and New Jersey. Known for its service and family-operated legacy, Eagle is recognized for its high-quality equipment and dependable, customer-first operating philosophy.

The combination of Eagle and RAC creates one of the largest independent portable storage and ground level office leasing networks in the U.S. With over 25,000 high quality units in its rental fleet and over 200 employees, the combined company will be particularly suited to deliver industry-leading service to its customers through its combined 18 branch locations serving the East Coast, South and Midwest markets, according to Kinderhook.

“We are proud of what Eagle Leasing has built over several generations and are thrilled to partner with Kinderhook and RAC to drive Eagle’s next chapter of growth,” says Louis Eagle, owner of Eagle Leasing. “This transaction expands the opportunity for our employees, for our customers and for the Eagle brand.”

“Continuing the Eagle legacy was important to us,” added Jen Eagle, president and CEO.  “We’re excited that the business will continue to operate under the Eagle name, and we are confident that RAC is the right partner to invest in our brand and people.”

Several members of the Eagle family will remain with the business to support continued growth, including:

• Matthew Eagle, vice president and former chairman of the board of the National Portable Storage Association;
• Michael Eagle, vice president of sales; and
• Brandon Eagle, vice president of operations and marketing.

“We are incredibly excited to execute this transformative acquisition,” says Dan McMurtrie, CEO of Rent-A-Container. “Eagle is one of the most trusted brands in the portable storage industry. This acquisition not only cements RAC’s market presence in the Eastern region but also deepens our bench of leadership and operating talent.”

Rob Michalik, managing director at Kinderhook, adds, “Eagle’s quality asset base and entrenched market presence make this acquisition a tremendous opportunity for RAC. The company is well-positioned to service customers and strengthen market share as it looks to build further density across the East Coast.

“We believe Eagle’s team will be a great addition to the RAC team and culture and we look forward to collaborating with them to drive the next phase of growth.”

Buyers were represented by Sidley Austin LLP and Greenberg Traurig LLP on legal matters and by Alvarez & Marsal for business diligence. Sellers were represented Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. on legal matters, and Houlihan Lokey and Corporate Partners served as financial advisors.  Comerica Bank, Huntington Bank and Key Bank led the various required credit facilities.

The Rent-A-Container Network is actively looking to grow.  If you are interested in selling your business or your fleet of shipping container assets, please contact RAC’s Director of Mergers & Acquisitions, Michael Ferrantino, at mike@rentacontainer.com.