Capstone Partners Sees Growth Ahead for Temporary Space Solutions Sector Following Milestone Acquisition

Capstone’s second sell-side advisory transaction in the space highlights the race to build national footprints in Temporary Space Solutions sector.

NEW YORK, NEW YORK, UNITED STATES, November 28, 2023 / — Capstone Partners, a leading middle market investment banking firm, sees robust growth and M&A opportunity ahead in the Temporary Space Solutions sector with the recent acquisition of 616 Global Clearspans (“616GC”)—a leading provider of turnkey temporary and semi-permanent structures—by sector leader WillScot Mobil Mini Holdings Corp LLC (NASDAQ: WSC) (“WillScot”).

This acquisition represents the one of the first large-scale transaction in the sector—which to-date has remained highly fragmented—as well as the second Capstone-advised transaction in the space following the 2022 acquisition of Mahaffey Tents by Sunbelt Rentals, a U.S. Subsidiary of Ashtead Group (LSE: AHT).

As the sector continues to experience rapid growth and a dramatic spike in demand, strategic buyers are looking grow scale and add capabilities to capture more market share, fostering robust consolidation opportunity.

As referenced in Capstone’s latest Building Products M&A Update, the Construction sector has been plagued by supply chain issues and labor shortages, particularly since the onset of the COVID-19 pandemic. Construction backlogs grew from 1 month to 9.2 months year-over-year as of December 2022, and have continued to bottleneck projects in both the residential and commercial spheres. In addition, inflation and a slowdown in construction financing have impacted the speed of project completion, with 84% of construction and development companies surveyed reporting construction delays. As a result, many clients are turning to temporary space solutions over permanent new construction, and large providers in the space are capitalizing on healthy demand by pursuing inorganic growth and expansion initiatives.

“616 is one of the first Temporary Space Solutions companies to gain scale and wide capabilities. As more and more companies look to source temporary space instead of committing to new infrastructure, we expect the sector to continue to boom,” said Ken Wasik, Managing Director and Head of Consumer Investment Banking at Capstone Partners, who served as lead advisor to 616GC during the transaction.

As large strategic players become more active in pursuing inorganic growth and fostering consolidation, Capstone expects middle market businesses in the sector that have built out national coverage and a developed a strong recurring client base to be well positioned for acquisition.

ABOUT 616 Global Clearspans (616GC)

Founded in 2010 and run as an owner-operated company, 616GC provides turnkey temporary and semi-permanent structures, HVAC, flooring, graphics, and more to a national and international client base. The structures are used in large-scale industrial warehousing, construction sites, retail and distribution spaces, and high-end event spaces. The 616GC team has decades of experience working on some of the largest event projects in the United States and with major international brands.


WillScot Mobil Mini Holdings Corp LLC (NASDAQ: WSC), at $7.7 billion market cap, is a leading provider of temporary workspace and portable storage solutions that services clients across the United States, Canada, and Mexico. Headquartered in Phoenix, Arizona, WillScot specializes in innovative and flexible temporary space solutions including modular office complexes, mobile offices, classrooms, temporary restrooms, portable storage containers, and more. The acquisition adds a new line of temporary space solutions to its offerings.


For over 20 years, the firm has been a trusted advisor to leading middle market companies, offering a fully integrated range of investment banking and financial advisory services uniquely tailored to help owners, investors, and creditors through each stage of the company’s lifecycle. Capstone’s services include M&A advisory, debt and equity placement, corporate restructuring, special situations, valuation and fairness opinions, and financial advisory services. Headquartered in Boston, the firm has 175+ professionals across the U.S. With 12 dedicated industry groups, Capstone delivers sector-specific expertise through large, cross-functional teams. Capstone is a subsidiary of Huntington Bancshares Incorporated (NASDAQ: HBAN). For more information, visit

Ken Wasik
Capstone Partners
+1 917-434-6124
[email protected]

Article originally published on as Capstone Partners Sees Growth Ahead for Temporary Space Solutions Sector Following Milestone Acquisition

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