McGrath acquires Vesta Modular from Kinderhook for $400m

• Oppenheimer & Co. acted as financial advisor to Kinderhook and Vesta on the transaction while Kirkland & Ellis LLP served as legal counsel
• Vesta was founded in 2014
• Kinderhook Industries invests in the middle market

Kinderhook Industries has sold Southfield, Michigan-based Vesta Modular, a provider of temporary and permanent modular space solutions, to McGrath RentCorp. The purchase price was $400 million.

Vesta was founded in 2014.

“Kinderhook is thrilled with this outcome for VESTA, its employees, and our limited partners,” said Rob Michalik, managing director at Kinderhook, in a statement. “Our investment in VESTA highlights the key tenets of Kinderhook’s investment strategy – partnering with world class management teams to create industry leading companies. We thank the VESTA team for their hard work over the past two years and look forward to the great accomplishments to come from the combined VESTA and McGrath teams.”

Oppenheimer & Co. acted financial advisor to Kinderhook and Vesta on the transaction while Kirkland & Ellis LLP served as legal counsel.

Kinderhook Industries invests in the middle market. The firm manages $5.4 billion of committed capital.

Headquartered in Livermore, California, McGrath RentCorp is a B2B rental company.