William Scotsman last week completed its acquisition of Madrid-based Wiron Construcciones Modulares S.A., one of the largest modular space providers in Spain. Wiron has 14 branches with a fleet of 13,600 mobile offices. The acquisition includes leasing and manufacturing operations.
In July 2004, William Scotsman made its first strategic investment in Europe by acquiring an 8.5-percent interest in Wiron. It paid $48.3 million for the remaining 91.5 percent to become the sole shareholder, and assumed net debt of $21.7 million. Wiron grossed $30.4 million in 2005, with $10.8 million in EBITDA, based on current exchange rates.
Based in Baltimore, William Scotsman provides mobile and modular space solutions for construction, education, commercial, healthcare and government markets.