Pacific Mobile Structures Acquires Sustainable Modular Management

Pacific Mobile Structures has acquired Sustainable Modular Management (SMM) a fellow family-owned modular building company based in Frisco, Texas. The announcement comes after Garth Haakenson, President and CEO of Pacific Mobile Structures, and Nick Mackie, President and CEO of SMM began discussing the benefits of a combined effort in the very active modular construction markets earlier this year. As a 15-year-old company, SMM is managing over 700,000 square feet of leased modular building space spanning across a diverse client base in the federal government, healthcare, education, and energy markets.

“After running a process which consisted of interviewing multiple potential partners, it quickly became clear that Pacific Mobile was the optimal choice,” said Mackie.

As a Pacific Mobile-owned company, Sustainable Modular Management will continue to operate in its current form as it looks to expand its government contracting business. This acquisition will offer many benefits to their existing customer base, including:

• Access to Pacific Mobile's network of 10 storage and maintenance facilities across the Western States
• Increased capacity and flexibility of leasing and financing options
• Additional project management resources
• Back-office support in HR, Marketing, IT, Accounting, and Procurement

Mackie will remain as President of SMM along with the entire team of over 45 employees.

“Under Mr. Haakenson’s leadership, PMSI has experienced tremendous growth and undeniably established itself as one of the most dominant companies in the modular construction industry. The synergies created between the two entities will increase PMSI’s competitive edge by widening its geographical footprint and providing instant access to new end markets. The management team at SMM is excited to be working alongside PMSI executives to expand upon its already robust sales and leasing model,”said Mackie.

Pacific Mobile recognizes the value of the SMM team and, as a larger organization, will be able to provide them with additional personal growth opportunities.

"Pacific Mobile Structures is excited for the Sustainable Modular Management team to join our family. I'm looking forward to the many possibilities that lie ahead as a result of this acquisition. We recognize the talent Nick has assembled over the years and I'm excited to say that all SMM employees will be needed to support our growth plans as a combined group," said Haakenson.

BofA Securities is acting as exclusive financial advisor and Hallett & Perrin, PC is acting as legal advisor to Sustainable Modular Management.