December 13, 2021

Southfield, MI – VESTA Modular (“VESTA” or the “Company”) a portfolio company of Kinderhook Industries, LLC has completed its third acquisition of 2021. On December 8, 2021, VESTA acquired California-based Commercial Mobile Systems (“CMS”), which was founded in 1981 by Mark A. Morton. CMS is based in Riverside, California and serves customers in the Western United States with rental and sales of modular buildings.

“For years we have been looking for the right opportunity to partner with a great operator to lead our West Coast expansion initiatives. We are incredibly excited to have found Mark’s business and his team led by Chris Parker,” said VESTA CEO Dan McMurtrie. “The CMS team will help us continue to grow our branch network in order to ensure we can service customers from coast-to-coast.”

As part of this transaction, Chris Parker will assume the role of Western Region Manager focused on continued growth on the west coast and Mark Morton will remain involved as an investor. “While we have seen significant growth in our business over the past few years, we are really excited to find out what we can accomplish with the support of the broader VESTA enterprise,” said Parker. “Our team is ready to hit the ground running to execute on our plan to expand our foothold in California and beyond.”

“The CMS team has a proven track record of outstanding service and a strong position in attractive end markets across Southern California,” said Kinderhook Managing Director Rob Michalik, “CMS possesses a well-maintained fleet and deep relationships in the region, and will fit seamlessly into VESTA’s expanding national network.”

With this acquisition, VESTA continues its growth strategy by adding its 8th branch location. All CMS employees will join the VESTA team. Customers of CMS will experience a seamless transition to VESTA as the companies integrate over the coming weeks.

Harvey & Company served as investment advisor, Kirkland & Ellis served as legal counsel, and Alvarez and Marsal handled financial diligence for VESTA. Financing for the transaction was provided by a syndicate led by Flagstar Bank.

For additional information about this transaction, please contact: 
Robert Michalik
Managing Director
(212) 201-6789
[email protected]
 
Sam Keenan
Managing Director
(212) 201-6795
[email protected]