McGrath RentCorp is a diversified business-to-business rental company that provides modular buildings, portable storage, and electronic test equipment across North America. Founded in 1979, the company operates through four primary segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.
The Mobile Modular segment is the company's largest revenue driver, accounting for the majority of its rental income (approximately 64% of rental revenues in late 2025). This division rents and sells relocatable modular buildings for use as temporary classrooms, healthcare facilities, and commercial office spaces. It also offers value-added services such as site preparation, installation, and furniture rental through its Mobile Modular Plus program. The Portable Storage segment complements this by providing steel storage containers and mobile offices for construction, commercial, and industrial applications.
The TRS-RenTelco segment serves a different market, renting and selling general purpose and communications test equipment to customers in the aerospace, defense, semiconductor, and telecommunications industries. Finally, the Enviroplex segment manufactures modular classrooms specifically for the California public school market.
McGrath RentCorp generates revenue primarily through recurring rental agreements, supplemented by the sale of used equipment and ancillary site-related services. In early 2024, McGrath RentCorp agreed to be acquired by WillScot Mobile Mini, but the merger was mutually terminated in September 2024 due to regulatory hurdles with the Federal Trade Commission. The company continues to operate independently as a publicly traded entity.
