What McGrath does

McGrath RentCorp (NASDAQ: MGRC) is a U.S. business-to-business rental company that has operated since 1979, providing temporary and permanent space and equipment solutions through five interconnected divisions: Mobile Modular (relocatable modular buildings for classrooms, offices, healthcare, and construction site space), Mobile Modular Portable Storage (portable storage containers for commercial and industrial customers, launched as a separate division in 2008), TRS-RenTelco (electronic test equipment rentals including communications, fiber optic, and general-purpose instruments serving telecom and data center customers), Enviroplex (a 73.171%-owned manufacturing subsidiary producing portable classrooms certified to California Division of State Architect requirements), and Kitchens To Go (mobile kitchen rentals for events and disaster relief, acquired in 2021). The company went public in 1984, is headquartered in Livermore, California, and employs between 1,001 and 5,000 people.

The business model centers on recurring rental revenue (rental periods ranging from one month to ten years with a typical duration of 18 months), supplemented by equipment sales and ancillary services such as site work, delivery, installation, and maintenance. Pricing is quote-based and not publicly disclosed. McGrath runs large regional inventory centers in California and Texas, with operations support in Plano, Texas (TRS-RenTelco eastern hub), manufacturing in Stockton, California (Enviroplex), and additional inventory in Corona, California. The company achieved full U.S. national reach in 2025 following decades of geographic expansion and the 2023 acquisition of VESTA Modular. In April 2026, Philip B. Hawkins succeeded Joseph F. Hanna as President and CEO in a planned internal transition.

Customer mix spans California public school districts (historically 35–40% of consolidated rental and sales revenue), telecommunications carriers, data center operators, construction companies, healthcare facilities, and commercial/industrial enterprises. The TRS-RenTelco division recorded 13% rental revenue growth in Q1 2026 driven by data center infrastructure demand, providing a counterweight to softness in traditional telecom. The company is a 35-consecutive-year dividend champion with a market capitalization of approximately $2.94 billion, full-year 2026 revenue guidance of $945–$995 million, and a $725 million revolving credit facility arranged in May 2026.

Name

McGrath

Legal name

McGrath RentCorp

Website

https://mgrc.com

Company type

Public

Founded year

1979

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

McGrath RentCorp (NASDAQ: MGRC) is a U.S. business-to-business rental company operating since 1979, providing modular buildings, portable storage, electronic test equipment, portable classrooms, and mobile kitchens to education, telecom, data center, construction, and commercial customers nationwide.

Ownership category

akta.pro rank

Product category

Modular Building and Equipment Rental

NAICS

Commercial and Industrial Machinery and Equipment Rental and Leasing (5324)

SIC

Services-Equipment Rental & Leasing, Nec (7359)

akta.pro primary industry

Lifting & Hoisting Rental & Leasing (IMAHAJAN)

Keywords

• Modular building rentals
• Portable storage rentals
• Electronic test equipment
• Mobile office solutions
• Portable classroom rentals

Headquarters

HQ city

Livermore

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Infrastructure, Marketing or Sales, Others

Revenue model

1. Rental Operations: Core rental revenue from modular buildings, portable storage, and electronic test equipment. Q1 2026 rental operations revenues grew 5% to $162.2 million. Rental periods range from one month to ten years with typical rental period of 18 months.
2. Equipment Sales: Sale of modular buildings, electronic test equipment, and portable classrooms (Enviroplex). Q1 2026 saw 13% decline in sales revenues.
3. Rental Related Services: Ancillary services including site work, delivery, installation, and maintenance of rental equipment.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

McGrath RentCorp is a business-to-business rental company that rents and sells relocatable modular buildings, portable storage containers, and electronic test equipment to commercial, industrial, educational, and government customers. The company operates through five divisions — Mobile Modular, Mobile Modular Portable Storage, TRS-RenTelco, Enviroplex, and Kitchens To Go — offering rental periods ranging from one month to ten years, supplemented by ancillary services such as site work, delivery, installation, and maintenance.

Product overview

McGrath RentCorp is a business-to-business rental company operating through a platform of five interconnected divisions. The core rental operations include Mobile Modular (relocatable modular buildings for classrooms and commercial space), Mobile Modular Portable Storage (portable storage containers), and TRS-RenTelco (electronic test equipment). These are supplemented by Enviroplex, a majority-owned subsidiary manufacturing portable classrooms for sale, and Kitchens To Go providing mobile kitchen rentals. The company was founded in 1979, went public in 1984, and reached full national coverage in 2025 following geographic expansion and the 2023 acquisition of VESTA Modular.

Differentiator

Problem solved

Functional benefit

Brands

• Mobile Modular: Relocatable modular building rentals and sales for temporary and permanent space needs including classrooms, offices, and construction field offices
• Mobile Modular Portable Storage
• TRS-RenTelco
• Enviroplex
• Kitchens To Go

Products and services

• Mobile Modular (Modular Building Rentals) Relocatable modular building rentals and sales for temporary and permanent space needs including classrooms, offices, construction field offices, and healthcare facilities, serving educational institutions and commercial customers in California and Texas.
• Mobile Modular Portable Storage Portable storage container rentals providing flexible storage solutions for commercial and industrial customers.
• TRS-RenTelco (Electronic Test Equipment Rentals)

Quantifiable outcome

• 85.2% fleet utilization at December 31, 2002
• +3 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators14 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• WillScot Mobile Mini Holdings: Direct peer in modular space and portable storage; the announced $3.8B acquisition of McGrath underscores how closely comparable their fleets, customer segments, and operating models are. Operates ~475,000 rental units.
• Algeco (Modulaire Group): Direct peer in modular building rentals serving construction, education, and commercial customers. One of the largest modular rental operators globally with comparable fleet-based business model and similar customer verticals.
• ATCO Structures & Logistics: Direct peer in modular space solutions with workforce housing, classrooms, and commercial modular offerings. Comparable business model with fleet rental and modular manufacturing capabilities.
• Electro Rent Corporation: Direct peer to TRS-RenTelco for electronic test and measurement equipment rentals. Similar customer base (telecom, aerospace, electronics) and comparable lease/finance structure for high-value test instruments.
• Vanguard Modular Buildings Systems: Direct peer in modular building rentals serving commercial, educational, and industrial customers in the U.S. Northeast and Mid-Atlantic. Comparable fleet model and customer verticals.
• PODS Enterprises: Direct peer in portable storage container rentals. Comparable container fleet model and customer base for commercial/industrial storage, though more consumer-marketed than McGrath's Mobile Modular Portable Storage division.

Broad incumbents

• United Rentals: Largest equipment rental company in the world with overlapping exposure to commercial/industrial customers needing temporary space. While focused on heavy equipment rather than modular buildings, they compete for similar B2B contracts at large enterprises.
• Sunbelt Rentals (Ashtead Group): Second-largest equipment rental company in North America, with a broad fleet spanning aerial, general tools, and climate control. Overlaps with McGrath in commercial/industrial temporary-space solutions at larger scale.
• H&E Equipment Services: Mid-cap equipment rental company with national footprint serving industrial and commercial customers. Comparable B2B direct-sales model and recurring rental revenue streams, though more focused on heavy machinery.
• Herc Holdings: Full-service equipment rental provider with national footprint in North America. Competes for similar commercial, industrial, and infrastructure customer spend on rental solutions, though more oriented toward construction equipment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mcgrath-rentcorp

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about McGrath