VESTA Modular announces Acquisition of BD Modular Solutions

SOUTHFIELD, Mich. - June 28, 2021 - PRLog -- VESTA Modular ("VESTA" or the "Company") today announced it had completed the acquisition of Dallas-Based BD Modular ("BD"). Financial terms of the transaction were not disclosed. Founded in 2016 and headquartered in Dallas, TX, BD Modular is a rapidly growing provider of temporary and permanent modular buildings. BD serves clients in the education, industrial, construction, government, and retail sectors and has become a market-leader in the Southwestern United States.

"We have been competing with the BD team for years and we are very excited to have them on the VESTA side going forward," said VESTA CEO Dan McMurtrie. "Bryan and Dehn will help us solidify our presence in the South as we continue our expansion plans West of the Mississippi."

BD Founders Bryan Sulton and Dehn Smith will assume the roles of VP of Sales and VP of Accounting, respectively, tasked with the Company's westward expansion initiatives. "While we have seen significant growth in our business over the past few years, we are really excited to see what we can accomplish with the support of the broader VESTA enterprise," said Sulton. "Our entire team is ready to hit the ground running to execute on our plan to expand our foothold in the Southwest and beyond."

With this acquisition, VESTA continues its rapid growth strategy by adding approximately 350 modular units and supplementing its new branch location in Dallas, TX. All BD employees will join the VESTA team. Customers of BD will experience a seamless transition to VESTA as the companies integrate over the coming weeks. Kirkland & Ellis served as legal counsel to VESTA and Alvarez and Marsal handled financial diligence. Financing for the transaction was provided by a syndicate led by Flagstar Bank.

About VESTA Modular

Founded in 2014 and headquartered in Southfield, MI, VESTA is a leading provider of temporary and permanent modular space solutions across a diverse base of end markets and applications. The Company operates two divisions – (i) modular space leasing whereby it leases units from its owned fleet of over 4,000 units to customers across a range of end markets and (ii) modular project installation whereby it facilitates the design, construction, and installation of modular spaces.  For more information please visit: https://www.vestamodular.com

About Kinderhook Industries

Founded in 2003, Kinderhook Industries, LLC is a private investment firm that manages $3.3 billion of committed capital. We have made more than 275 investments and follow-on acquisitions since inception. Kinderhook's investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional financial expertise and our proprietary network of operating partners.  We have a track record of successfully and consistently building industry leaders. For more information, please visit: https://www.kinderhook.com