Pac-Van Acquires Assets of Instant Storage
Pac-Van Inc. added more than 2,200 portable storage containers, storage trailers and office containers to its rental inventory with the purchase of assets from Instant Storage in Bakersfield, Calif., and Miami.
Terms were not disclosed.
The deal is the latest in a string of more than 30 acquisitions by the Indianapolis-based Pac-Van, which now operates more than 50 offices in the United States and Canada.
The company is owned by General Finance Corp., a firm based in Pasadena, Calif., that also operates in Australia and New Zealand through Royal Wolf Holdings Limited and whose businesses in North America include Lone Star Tank Rental, a provider of portable storage, office and liquid tank containers, mobile offices and modular buildings, and Southern Frac, a manufacturer of portable liquid storage tank containers and other steel products.
In addition to picking up assets from Instant Storage, Pac-Van will add 14 professionals to its team, according to Jody Miller, CEO of GFC.
“With these newly acquired assets, we are able to achieve increased market penetration into both the Central Valley region and the greater Los Angeles area of Southern California, as well as in Miami and the south Florida region,” Miller said in a statement on Sept. 24.
Pac-Van was started in 1993 and became part of General Finance in 2008.
