McGrath RentCorp a business-to-business rental company in North America, has bought Vesta Modular, a portfolio company of Kinderhook Industries, for a cash price of $400 million.

Founded in 2014 and headquartered in Southfield, Mich., Vesta is a provider of temporary and permanent modular space services. Vesta’s end markets include education, industrial, construction, government, municipalities and retail sectors. In addition to its Southfield, Mich., headquarters, it operates branches in markets such as Atlanta, Houston, and Miami. McGrath has also sold Adler Tank Rentals to Ironclad Environmental Solutions, a Kinderhook portfolio company, for a cash sale price of $265 million. Both transactions closed simultaneously on February 1, 2023.

“We are now able to offer our customers access to an expanded product line across more geographies than ever before,” comments Joe Hanna, president and CEO of McGrath. “We are confident we will be able to leverage our combined sales and operational resources by seamlessly integrating Vesta in order to grow the new, larger scaled McGrath modular business together.”