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We, General Finance Corporation (NASDAQ:GFN, GFNCL, GFNCZ), were
incorporated in Delaware on October 14, 2005 and completed our initial
public offering in April 2006. On September 13, 2007, we acquired
RWA Holdings Pty Limited, an Australian corporation, and its subsidiaries
(collectively, Royal Wolf). Royal Wolf leases and sells
mobile storage containers, portable container buildings and freight
containers in Australia and New Zealand.
On May 31, 2011, Royal Wolf completed an initial public offering
in Australia, which raised gross proceeds of A$91.5 million from
the issuance of 50 million new ordinary shares at a price of A$1.83
per share. At the completion of the offering, we still owned an
indirect majority interest in Royal Wolf.
On October 1, 2008, we acquired Pac-Van, Inc. ("Pac-Van"),
an Indiana corporation. Pac-Van is a leading provider of modular
buildings, mobile offices and storage containers in the United States.
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Our business plan and long-term strategy
is to identify, acquire and integrate specialty finance businesses.
These acquired operating companies will typically be structured vertically
by type of product or business and have experienced management teams
in industries with attractive organic or acquisition growth potential.
Additional business lines or operating companies that we would consider
include equipment rental and leasing companies that have high service
components, such as modular buildings, mobile offices and storage
containers, production and testing equipment, transportation, construction
or storage equipment, safety equipment, specialty or niche insurance
lines; and other business services companies. Our function at General
Finance is to enhance the intrinsic values of the operating companies
by providing guidance with respect to operating and acquisition strategy,
logistical support, budgeting and long-term planning and financing
and capital structure. |
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