Mcgrath Rentcorp Announces Completion Of $650 Million Financing

Jul 19, 2022•almost 3 years ago

Amount Raised

$650 Million

Description

McGrath RentCorp (NASDAQ: MGRC) (the “Company”), a diversified business-to-business rental company, today announced that it has completed a $650 million credit facility with a syndicate of banks. The five year facility matures on July 15, 2027 and replaces the Company’s existing $420 million line of credit. BofA Securities, Inc. served as Joint Lead Arranger and Sole Bookrunner

Company Information

Company

Mcgrath Rentcorp

About

McGrath RentCorp is a leading business-to-business rental company in North America, with a focus on modular solutions through its Mobile Modular and Mobile Modular Portable Storage businesses, along with electronic test equipment rental solutions through its TRS-RenTelco business. The company's rental product offerings and services contribute to the circular supply economy, helping customers work more efficiently and manage their environmental footprint sustainably. With over 40 years of experience, McGrath has demonstrated a strong record of profitable business growth, driven by a focus on exceptional customer experiences.

FundzWatch™ Score

Medium Activity

Buyer Intent Analysis

Get personalized insights on buying likelihood

Funding Insights

Based on industry data

Tech investment trends

83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech