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GlobeNewswire
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Algeco Scotsman: Algeco Scotsman Announces Acquisition of Iron Horse Ranch

BALTIMORE, 2017-12-15 21:31 CET (GLOBE NEWSWIRE) --
Algeco/Scotsman Holding S.à r.l. (together with its subsidiaries, the "Algeco
Group") today announced the successful closing of the acquisition by the Algeco
Group's subsidiary, Target Logistics Management, LLC ("Target Logistics"), of
Iron Horse Ranch from funds managed by TDR Capital LLP ("TDR"). 

The acquisition solidifies Target Logistics' position as the single largest
provider of turnkey workforce housing in the U.S., including a network of eight
lodges and 2,119 beds in the Permian Basin. With the acquisition, Target
Logistics' Permian Basin lodge network now includes Texas lodges in Pecos,
Mentone, San Angelo and two in Odessa, along with two lodges in Carlsbad and
Lovington, New Mexico. Additionally, Target Logistics adds Eagle Ford lodges in
Cameron and Yorktown, Texas. 

Diarmuid Cummins, CEO Algeco Scotsman: "Today we announce the completion of the
second of two strategic acquisitions which we flagged earlier in the year as
important steps forward for the Algeco Group. This transaction materially
enhances our leading position in the Permian Basin and expands our presence in
the Eagle Ford Basin." 

Brad Archer, CEO Target Logistics: "We are proud to officially welcome Iron
Horse Ranch to our team as part of our continued effort to build on our
extensive network of turnkey workforce lodges in the United States. Iron Horse
Ranch not only complements our existing footprint in the Permian Basin, but
also shares our commitment to helping customers realize their full potential by
providing a safe and comfortable environment away from the job site." 

Cautionary Notice Regarding Forward Looking Statements

This press release includes forward-looking statements within the meaning of
the securities laws of certain applicable jurisdictions, which reflect the
Algeco Group's expectations regarding its future operational and financial
performance. By their nature, the forward-looking events described in this
press release may not be accurate or occur at all. In particular, we may not be
able to realize the anticipated benefits of the acquisition of Iron Horse. 
Accordingly, you should not place undue reliance on these forward-looking
statements, which speak only as of the date on which the statements were made.
Although any forward-looking statements contained in this press release reflect
management's current beliefs based upon information currently available to
management and upon assumptions which management believes to be reasonable,
actual results may differ materially from those stated in or implied by these
forward-looking statements. A number of factors could cause actual results,
performance or achievements to differ materially from the results expressed or
implied in any forward-looking statements. These factors should be considered
carefully and readers should not place undue reliance on any forward-looking
statements. Except as required by law, we undertake no obligation, and
specifically decline any obligation, to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. 

About Algeco Scotsman

Algeco Scotsman is the leading global business services provider focused on
modular space, secure portable storage solutions, and remote workforce
accommodation management. Headquartered in Baltimore, Algeco Scotsman has
operations in 24 countries with a modular fleet of approximately 245,000 units
and 11,400 remote accommodations rooms. The company operates as Target
Logistics in North America, Algeco in Europe, Elliott in the United Kingdom,
Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China. 

About Target Logistics

Target Logistics, an Algeco Scotsman company, is one of the largest providers
of turnkey housing solutions in North America. It operates globally in some of
the most remote environments, supporting oil, gas and mining with workforce
housing, mobile crew camps and extended-stay hotels; government departments and
organizations with temporary lodging and refugee integration; and capital
projects. Target Logistics was named by Inc. magazine in 2012 and 2013 as one
of "America's Fastest Growing Private Companies." Visit www.TargetLogistics.net
or call (800) 832-4242. 

About Iron Horse Ranch

Iron Horse Ranch is an industry leader in workforce housing for the Oil, Gas
and Construction industries.  Iron Horse Ranch specializes in turn-key remote
camp installation, operation, project management and land acquisition.  Iron
Horse Ranch has one of the highest standards in workforce and temporary
housing, winning awards for Service, Quality and Operational Excellence. Iron
Horse Ranch operates 6 workforce lodging facilities in North America with over
1000 beds.  For more information on Iron Horse Ranch, please visit
http://www.ironhorseranch.com. 

Investor Relations Contact:
Scott Shaughnessy
Vice President, Finance
Algeco Scotsman
410-933-5921
Scott.Shaughnessy@as.willscot.com
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© 2017 GlobeNewswire
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