Blog Exposure - Pac-Van Acquires Storage Container, Office Container, and Mobile Office Assets from Gauthiers’ On-Site Storage
Stock Monitor: AeroCentury Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 07, 2017 / Active-Investors issued a free report on General Finance Corp. (NASDAQ: GFN), which is readily accessible upon registration at www.active-investors.com/registration-sg/?symbol=GFN as the Company's latest news hit the wire. On December 05, 2017, the Company announced that its subsidiary, Pac-Van, Inc., has acquired Louisiana-based Gauthiers' On-Site Storage's storage container, office container, and mobile office rental fleet on December 01, 2017. The financial terms of the acquisition were not disclosed. Sign up now for our free research reports at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, General Finance most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
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Following the acquisition, Gauthiers' Oilfield Rental, LLC (A Modex Company) will continue to specialize in offshore equipment for its domestic and international oil and gas industry customers.
With this Acquisition, Pac-Van has Two Locations in Southern Louisiana
With the acquisition of the assets from Gauthiers' On-Site Storage, the Company now has two locations in Southern Louisiana, nearly 1,500 additional units in its fleet, and 11 new professionals on the team. Southern Louisiana is home to many large manufacturers, chemical plants, and related industries, and it provides significant opportunities for Pac-Van to deliver its portable storage and office space solutions.
Pac-Van Acquired Austin and San Antonio Container Assets from Advantage Trailer
On September 07, 2017, Pac-Van announced the acquisition on September 01, 2017, of Advantage Trailer, LLC's Austin and San Antonio area storage container and office container rental fleet. Pac-Van has five locations in Texas that serve the Austin, Corpus Christi, Dallas-Fort Worth, Houston, and San Antonio markets. The Company acquired more than 300 containerized units, further strengthening Pac-Van's position in the Texas market. Post the acquisition, Advantage Trailer continued to provide semi-trailer rentals and sales throughout the entire Texas area.
Pac-Van's Acquisition Strategy
The Company is always looking to expand. In recent years, Pan-Van has completed more than 30 acquisitions of companies of varying sizes, thereby adding over 20 new office locations to its service network. Many of the employees from those companies are now part of the Pac-Van team. In its acquisitions, the Company looks to build a mutually beneficial relationship between Pac-Van and the other companies. Pac-Van is willing to consider a purchase of inventory only, or the purchase of the entire company, and has a flexible and proven process in place for determining an initial value of the other companies' inventory or business.
About Pac-Van, Inc.
Pac-Van provides storage and office space solutions to its customers through the leasing and selling of storage containers, mobile office trailers, modular buildings, and bulk liquid storage frac tanks. The Company is a wholly-owned subsidiary of General Finance Corp. Pac-Van is headquartered in Indianapolis, Indiana, and has over 50 offices throughout North America.
Founded in 2005 and headquartered in Pasadena, California, General Finance Corp. is a leading specialty rental services Company, providing mobile storage, liquid containment, and modular space solutions.
Stock Performance Snapshot
December 06, 2017 - At Wednesday's closing bell, General Finance's stock was slightly down 0.78%, ending the trading session at $6.35.
Volume traded for the day: 24.52 thousand shares, which was above the 3-month average volume of 14.33 thousand shares.
Stock performance in the last month – up 16.51%; previous three-month period – up 28.28%; past twelve-month period – up 56.79%; and year-to-date - up 14.41%
After yesterday's close, General Finance's market cap was at $171.70 million.
The stock is part of the Services sector, categorized under the Rental & Leasing Services industry.
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