Williams Scotsman acquisition finalized

WIlliams Scotsman is again an independent Baltimore-based company with a publicly traded stock.

A Los Angeles investment firm completed its $1.1 billion acquisition of the modular space rental company, still headquartered in Baltimore, from its European parent.


Under the deal, first announced in August, the buyer, Double Eagle Acquisition Corp., has changed its name to WillScot Corp. to serve as the new holding company for Williams Scotsman.

The acquisition unshackles Williams Scotsman from its European parent, allowing the company to grow more quickly.


“As a public company, Williams Scotsman is well positioned to capitalize on additional strategic growth opportunities and will be better positioned to serve our customers and stakeholders,” said Williams Scotsman President and CEO Brad Soultz in a statement.

Williams Scotsman was founded in 1955 and went public in 2005, then was acquired by Paris-based Algeco two years later.

The company has more than 1,200 employees across 90 North American offices, including its headquarters at Bond Street Wharf in Fells Point.

Williams Scotsman leases modular buildings, such as those used on a construction site or as temporary classrooms for schools. The company also provides portable, temporary solutions for a variety of needs, ranging from pop-up retail to disaster relief.

Double Eagle, now WillScot, was created by entertainment veterans Jeff Sagansky and Harry Sloan. Sagansky is a former president of CBS Entertainment and Sloan is a former CEO of MGM.

In 2015, the firm raised $500 million through an initial public offering for the purpose of acquiring another company. To complete the deal, the company sold $300 million of five-year notes and borrowed $190 million against a $600 million line of credit.

The company’s stock will trade on the NASDAQ stock exchange under the ticker symbol WSC beginning Thursday.