Morrison Foerster advised long-term client McGrath RentCorp, a leading business-to-business rental company, in its acquisition of Vesta Modular, a portfolio company of Kinderhook Industries ("Kinderhook"), for a cash purchase price of $400 million, subject to certain adjustments, and sold Adler Tank Rentals, a business unit, to Ironclad Environmental Solutions, a Kinderhook portfolio company, for a cash sale price of $265 million, subject to certain adjustments. Both transactions were completed simultaneously on February 1, 2023.
The MoFo team advising McGrath RentCorp was led by San Francisco corporate partner Jackie Liu, together with San Francisco associates Daigo Takahashi, Ani Hamparsumyan, Molly Yoder and Kaimi Jeff Miyazawa.
The wider team included Washington, D.C. government contracts and public procurement partner Tina Reynolds; New York tax partner Dave Sturgeon; San Francisco executive compensation of counsel Brooke Monahan; San Francisco finance partner Victor Liang; and San Francisco trademarks of counsel Muzamil Huq.