McGrath

Modular Building and Equipment Rentalmgrc.com

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.

Company typePublic
Founded1979
HeadquartersLivermore, United States
Headcount1,001–5,000
GTM typeB2B
OfferingServices

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.

McGrath firmographics

Firmographics

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

McGrath industry classification

Industry

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

Where McGrath is headquartered

Location

Headquarters

HQ city: Livermore
HQ country: United States
HQ region: North America

Offices5 records

Markets served

McGrath business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Operations, Personnel, Supply Chain, Infrastructure, Marketing or Sales, Others

Revenue model

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.
Equipment Sales: Sale of modular buildings, electronic test equipment, and portable classrooms (Enviroplex). Q1 2026 saw 13% decline in sales revenues.
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

McGrath product offering

Product offering

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

Companies that use McGrath

Customer profile

Named customers3 records

Segments6 records

Ideal customer profiles4 records

McGrath technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

McGrath partnerships and signals

Strategic signal

Scale indicators14 records

Recent moves10 records

Expansion highlights6 records

McGrath competitors and assessment

Company assessment

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

McGrath compliance and trust

Trust signal

Compliance1 record

McGrath financial estimates

Financial estimate

Revenue estimate

Valuation estimate

McGrath leadership team

Management profile

Number of profiles

Profiles7 records

McGrath subsidiaries and ownership

Company hierarchy

Subsidiaries1 record

McGrath funding detail

Funding detail

Funding overview

Funding rounds2 records

Investors

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

McGrath M&A and investment

M&A and investment

M&A3 records

Investments

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

Frequently asked questions about McGrath

What does McGrath do?

Is McGrath a public or private company?

McGrath is a public company. It is classified as public and is currently operating.

When was McGrath founded?

McGrath was founded in 1979. It employs 1,001 to 5,000 people.

Where is McGrath based?

McGrath is headquartered in Livermore, United States, in the North America region.

How does McGrath make money?

Three revenue lines are on record. Rental Operations are the primary driver. The others are equipment Sales and rental Related Services.

Who are McGrath's main competitors?

Direct peers on record are WillScot Mobile Mini Holdings, Algeco (Modulaire Group), ATCO Structures & Logistics, Electro Rent Corporation, Vanguard Modular Buildings Systems and PODS Enterprises. Broad incumbents are United Rentals, Sunbelt Rentals (Ashtead Group), H&E Equipment Services and Herc Holdings.

Does McGrath have an API?

No public API is recorded for McGrath.

What industry is McGrath in?

McGrath's product category is Modular Building and Equipment Rental. Its primary akta.pro industry code is IMAHAJAN, Lifting & Hoisting Rental & Leasing. Its NAICS code is 5324 and its SIC code is 7359.