−Removed: Unless the context otherwise requires, “we,” “us,” “our” and the “Company” refers to WillScot Holdings Corporation ("WillScot") and its subsidiaries.
−Removed: Headquartered in Phoenix, Arizona, we are a leading business services provider specializing in innovative and flexible turnkey temporary space solutions.
+Added: Unless the context otherwise requires, “we,” “us,” “our” and “Company” refers to WillScot Holdings Corporation ("WillScot") and our subsidiaries.
+Added: Headquartered in Scottsdale, Arizona, we are a leading business services provider specializing in innovative and flexible turnkey temporary space solutions.
Our diverse product offering includes modular office complexes, mobile offices, classrooms, blast-resistant modules, clearspan structures, sanitation solutions, portable storage containers, and climate-controlled containers and trailers.
−Removed: We offer our customers a thoughtfully curated selection of solutions intended to improve the overall customer experience by making modular space and portable storage units more productive, comfortable, safe and secure for our customers with Value-Added Products (“VAPS”), such as workstations, furniture, appliances, media packages, power and solar solutions, telematics, connectivity and data solutions, security and protection products, entrance packages, electrical and lighting products, organization and space optimization assets, perimeter solutions, and other items that improve the overall customer experience.
+Added: We offer our customers a thoughtfully curated selection of solutions intended to improve the overall customer experience by making modular space and portable storage units more productive, comfortable, safe and secure for our customers with Value-Added Products (“VAPS”), such as workstations, furniture, appliances, media packages, power and solar solutions, telematics, connectivity and data solutions, security and protection products, entrance packages, electrical and lighting products, organization and space optimization assets, perimeter solutions, and other items.
These turnkey space solutions offer customers flexible, low-cost, and timely solutions to meet their space needs on an outsourced basis.
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We lease turnkey space solutions (our “lease fleet”) to customers across 15 distinct end markets.
−Removed: WillScot resulted from the merger of WillScot Corporation and Mobile Mini, Inc.
−Removed: ("Mobile Mini") on July 1, 2020.
−Removed: On September 30, 2022, the Company completed the sale of its former Tank and Pump Solutions ("Tank and Pump") segment.
−Removed: On January 31, 2023, the Company completed the sale of its former United Kingdom Storage Solutions ("UK Storage Solutions") segment.
−Removed: The accompanying consolidated financial statements present the historical financial results of the former Tank and Pump and UK Storage Solutions segments as discontinued operations for all periods presented.
−Removed: On July 29, 2024, the Company amended and restated its certificate of incorporation to effect a change of the Company’s name from “WillScot Mobile Mini Holdings Corp.” to “WillScot Holdings Corporation."
+Added: On January 31, 2023, the Company completed the sale of our former United Kingdom Storage Solutions ("UK Storage Solutions") segment.
+Added: The accompanying consolidated financial statements present the historical financial results of the former UK Storage Solutions segment as discontinued operations in 2023.
+Added: On July 29, 2024, the Company amended and restated its certificate of incorporation to effect a change of our name from “WillScot Mobile Mini Holdings Corp.” to “WillScot Holdings Corporation."
Products and Services
−Removed: The Company name change in 2024 to WillScot Holdings Corporation was part of a strategic rebranding that unified the Company's portfolio of brands under the WillScot name, aligning our go-to-market strategy to streamline the customer experience and optimize operations.
−Removed: We also introduced a new Company tagline, which emphasizes our commitment to bring expertise and execution to deliver turnkey space solutions that are right for the project and right for the timeline:
−Removed: "Right from the Start." We continued to expand into adjacent solutions, including climate-controlled storage and clearspan structures, and introduced new VAPS, including solar panels and perimeter solutions.
+Added: Our Company tagline emphasizes our commitment to bring expertise and execution to deliver turnkey space solutions that are right for the project and right for the timeline:
+Added: "Right from the Start."
Modular Space Solutions
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Redi-Plex complexes offer advanced versatility for large, open floor plans or custom layouts with private offices.
−Removed: Our proprietary design meets a wide range of national and state building, electrical, mechanical, and plumbing codes, which creates versatility in fleet management.
−Removed: Examples of section modular units include hospital diagnostic annexes, special events headquarters, temporary data centers, and larger general commercial offices.
+Added: Our proprietary design meets a wide range of national and state building, electrical, mechanical, and plumbing codes, which creates versatility in fleet
+Added: Examples of section modular units include hospital diagnostic annexes, special events headquarters, temporary data centers, and larger general construction and commercial offices.
Classroom units are generally double-wide units or FLEX panelized units adapted specifically for use by school systems or universities.
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Portable Storage Containers.
−Removed: Our portable storage containers offer an assortment of differentiated features such as patented locking systems, premium and multiple door options, optional climate control, and numerous configuration options.
+Added: Our portable storage containers offer an assortment of differentiated features such as patented locking systems, premium and multiple door options, and numerous configuration options.
Standard portable storage containers are made from weather‑resistant corrugated steel and are available in lengths ranging from 5 to 48 feet, widths of either 8 or 10 feet, and a variety of configuration options.
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The remanufacturing process begins with the purchase of used containers originally built to ISO standards which are 8 feet wide, up to 9.5 feet high and 20, 40 or 45 feet long.
−Removed: Remanufacturing typically involves cleaning, removing rust and dents, repairing floors and sidewalls, painting, and adding company logos or signs and may include further customization by adding our proprietary easy opening door system.
+Added: Remanufacturing typically involves cleaning, removing rust and dents, repairing floors and sidewalls, painting, and adding company logos or signs and may include further customization by adding our patented Tri‑Cam Locking System®, which features a waist‑level opening lever and interlocking bars to provide easy access for the customer without sacrificing security.
We maintain our steel containers on a regular basis by removing rust, painting them with rust inhibiting paint, plug-welding holes, and occasionally replacing the wooden floor or a rusted steel panel.
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We offer temperature-controlled containers, walk-in freezers, refrigerated storage trailers, and dock-height refrigerated trailers.
−Removed: These turnkey cold storage solutions come in a variety of sizes, allowing customers to efficiently manage temperature sensitive goods across various industries and infrastructures.
+Added: These turnkey climate-controlled storage solutions come in a variety of sizes, allowing customers to efficiently manage temperature sensitive goods across various industries and infrastructures.
These solutions can include motion-activated lighting, slip-resistant floors, multiple access options, roll and swing doors, and automatic tire-inflation systems for trailers.
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We also offer low-cost insurance coverages provided by third-party insurers to protect customers' financial interests from loss and personal injury.
−Removed: Storage containers can be equipped with our patented Tri‑Cam Locking System®, which features a waist‑level opening lever and interlocking bars to provide easy access for the customer without sacrificing security.
−Removed: We also offer ContainerGuardLock®, an optional security device, which features a hidden six‑pin tumbler system and is made from drill‑resistant hardened steel.
+Added: We also offer ContainerGuardLock®, an optional security device used in combination with our Tri‑Cam Locking System®, which features a hidden six‑pin tumbler system and is made from drill‑resistant hardened steel.
Entrance Packages.
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Sanitation rentals and servicing are also part of our VAPS portfolio.
−Removed: Sanitation services are handled through a reliable network of third-party partners, ensuring reliable service, cleanliness, and consistent functionality.
+Added: Sanitation services, whether for built-in restrooms within our modular units and stand-alone restroom trailers or related to third-party rental units, are handled through a reliable network of third-party partners, ensuring reliable service, cleanliness, and consistent functionality.
Our mobile offices come with fluorescent lighting built in.
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We also offer VAPS to enhance unit aesthetics, including flooring, wraps, facades, and exterior paneling.
−Removed: In addition to the many VAPS in our portfolio, we also provide incremental value to our customers by providing other services, including technical expertise and oversight for customers regarding building design and permitting, site preparation, and project management, including expansion or contraction of installed space based on changes in project requirements.
−Removed: Importantly, we believe that our scale, branch network, supply chain, product breadth, and go-to-market strategy give us a significant advantage in delivering turnkey space solutions, providing significant incremental value to our customers and driving incremental VAPS revenue for the Company relative to our competitors.
Delivery, Installation and Removal
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We believe that our logistics and service capabilities are unrivaled in the industry, differentiate us from competitors, and enhance our value proposition to our customers.
+Added: Other Services
+Added: We also provide incremental value to our customers by providing other services, including technical expertise and oversight for customers regarding building design and permitting, site preparation, and project management, including expansion or contraction of installed space based on changes in project requirements.
+Added: Importantly, we believe that our scale, branch network, supply chain, product breadth, and go-to-market strategy give us a significant advantage in delivering turnkey space solutions, providing significant incremental value to our customers and driving incremental VAPS revenue for the Company relative to our competitors.
Product Leases
We primarily lease, rather than sell, our turnkey space solutions to customers, which results in a highly diversified and predictable recurring revenue stream.
−Removed: For the year ended December 31, 2024, over 90% of new lease orders were on our standard lease agreement, pre-negotiated master lease, or national account agreements.
+Added: For the year ended December 31, 2025, over 90% of new lease orders were subject to our standard lease agreement, pre-negotiated master lease, or enterprise account agreements.
Rental contracts with customers are generally based on a 28-day or monthly rate and billing cycle.
The initial lease periods vary, and our leases are customarily renewable on a month-to-month basis after their initial term and continue until cancelled by the customer or us.
−Removed: ended December 31, 2024, the average effective duration of our consolidated lease portfolio for modular space and portable storage units, excluding seasonal portable storage units, was approximately 41 months.
−Removed: As a result, our lease revenue is highly predictable due to its recurring nature and the underlying stability and diversification of our lease portfolio.
−Removed: For the year ended December 31, 2024, our average minimum contractual lease term at the time of delivery for modular space units, excluding ground level offices, was 10 months.
−Removed: Given that our customers value flexibility, they consistently extend their leases or renew on a month-to-month basis such that the average effective duration of our modular space lease portfolio, excluding ground level offices, was over 40 months, and on average, the steel ground level offices on rent for the year ended December 31, 2024 had been in place for over 23 months.
+Added: For the year ended December 31, 2025, the average effective duration of our consolidated lease portfolio for modular space and portable storage units, excluding seasonal portable storage units, was approximately 42 months.
+Added: As a result, the lease duration of our portfolio helps to mitigate revenue volatility through different end-market and macroeconomic cycles.
+Added: For the year ended December 31, 2025, our average minimum contractual lease term at the time of delivery was less than 12 months.
+Added: Given that our customers value flexibility, they consistently extend their leases or renew on a month-to-month basis such that the average effective duration of our modular space lease portfolio, excluding ground level offices, was over
+Added: 39 months, and on average, the steel ground level offices on rent for the year ended December 31, 2025 had been in place for over 23 months.
Customers are responsible for the costs of delivery and set-up, dismantling and pick-up, customer-specified modifications, costs to return custom modifications back to standard configuration at end of lease, and any loss or damage beyond normal wear and tear.
−Removed: Our leases generally require customers to maintain liability and property insurance covering the units during the lease term and to indemnify us from losses caused by the negligence of the customer or their employees.
+Added: Our leases generally require customers to maintain liability and property insurance covering the units during the lease term and to indemnify us from losses caused by the negligence of the customer or its employees.
For the year ended December 31, 2025, the average effective duration of our lease portfolio for storage containers on rent, excluding seasonal portable storage units, was over 45 months.
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Demand for our products varies by end market.
−Removed: Construction customers typically reflect higher demand during months with more temperate weather, while demand from large retailers is stronger from September through December, when more space is needed to store holiday inventories.
−Removed: Retail customers usually return these rented units in December and early in the following year, but also undertake ongoing rolling store renovations which present consistent recurring demand throughout the year.
+Added: Construction customers typically reflect higher demand during months with more temperate weather, while demand from retailers, grocers, and specialty food providers is stronger from September through December, when more space is needed to store holiday inventories.
+Added: These customers usually return these rented units in December and early in the following year, but also undertake ongoing rolling store renovations and have other seasonal needs, which present consistent recurring demand throughout the year.
As of December 31, 2025, we had over 304,000 total units including over 128,000 modular space units, over 176,000 portable storage units, and other VAPS representing fleet net book value of $3.1 billion and approximately 100 million square feet of relocatable commercial space.
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We also offer delivery, installation, and removal-related services for an additional fee as part of our sales operations.
−Removed: Our customers operate in a diversified set of end markets, and we track several leading market indicators, such as the Gross Domestic Product ("GDP"), Architecture Billing Index ("ABI"), non-residential construction square foot starts and put in place construction spending, to predict demand, including demand in our two largest end markets, the commercial and industrial market and the construction and infrastructure market, which accounted for approximately 43% and 42% of our revenues, respectively, for the year ended December 31, 2024.
+Added: Our customers operate in a diversified set of end markets, and we track several leading market indicators, such as gross domestic product ("GDP"), the Architecture Billing Index ("ABI"), non-residential construction square foot starts and put in place construction spending, to predict demand, including demand in our two largest end markets, the commercial and industrial market and the construction and infrastructure market, which accounted for approximately 43% and 42% of our revenues, respectively, for the year ended December 31, 2025.
Core to our operating model is the ability to deploy standardized assets that can be redeployed across our diversified customer base of over 85,000 customers.
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As a result, we have established strong relationships with a diverse customer base, ranging from large multinational companies that operate across multiple geographic markets to local sole proprietors that may only have a single operating location.
−Removed: We believe that our customers prefer our modular space and portable storage
−Removed: products over fixed, on-site built space because they are a quick, flexible, cost-effective, and low-risk solution for temporary or permanent expansion or storage.
+Added: We believe that our customers prefer our modular space and portable storage products over fixed, on-site built space because they are a quick, flexible, cost-effective, and low-risk solution for temporary or permanent expansion or storage.
Key customer end markets include:
−Removed: Construction and Infrastructure
−Removed: We provide office and storage space and clearspan structures to a broad array of contractors associated with non-residential buildings and non-building infrastructure and, to a lesser extent, residential construction.
−Removed: Our client portfolio includes many of the largest general contractors and engineering, architecture, procurement, and construction companies in North America, working across all of the non-residential construction sub-sectors.
−Removed: Examples include highway, street, bridge, and tunnel contractors;
−Removed: water, sewer, communication, and power line contractors;
−Removed: and special construction trades, including plumbing, electrical, glass, glazing, and demolition.
−Removed: Our construction and infrastructure customer base is characterized by a wide variety of contractors that are associated with original construction as well as capital improvements in the private, institutional, and municipal arenas.
−Removed: Units are used as offices, lunch and break rooms, accommodations, restroom facilities, material and equipment storage facilities, security offices, and other applications.
Commercial and Industrial
−Removed: Customers in this category use our products as their primary office or retail space, to expand their existing commercial workspace, to increase their storage capabilities, or as temporary space for festivals, trade shows, sporting, and other events.
+Added: Customers in this category use our products as their primary office or retail space, to expand their existing commercial workspace, to increase their storage capabilities, or as temporary space for festivals, trade shows, sporting, and
+Added: other events.
Customers in this category span a variety of industries ranging from commercial offices;
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Our customers in retail and wholesale trade include some of the world's largest retailers who have storage needs throughout all stages of their supply chain.
+Added: Construction and Infrastructure
+Added: We provide office and storage space and clearspan structures to a broad array of contractors associated with non-residential buildings and non-building infrastructure and, to a lesser extent, residential construction.
+Added: Our client portfolio includes many of the largest general contractors ("GCs") and engineering, architecture, procurement, and construction companies in North America, working across all of the non-residential construction sub-sectors.
+Added: Examples include highway, street, bridge, and tunnel contractors;
+Added: water, sewer, communication, and power line contractors;
+Added: and special construction trades, including plumbing, electrical, glass, glazing, and demolition.
+Added: Our construction and infrastructure customer base is characterized by a wide variety of contractors that are associated with original construction as well as capital improvements in the private, institutional, and municipal arenas.
+Added: Units are used as offices, lunch and break rooms, accommodations, restroom facilities, material and equipment storage facilities, security offices, and other applications.
Energy and Natural Resources
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North American Leader in Turnkey Temporary Space Solutions
−Removed: Our network serves the largest North American metropolitan areas with local teams who are experts in their respective markets.
−Removed: In 2024, we completed the final systems and field harmonization contemplated in the original WillScot and Mobile Mini integration plan, combining our legacy modular and storage sales and operations teams under a single leadership structure, organized by geography.
+Added: Our network serves the largest North American metropolitan areas with local teams who have a deep understanding of their respective markets.
+Added: In 2024, we completed the final systems and field harmonization contemplated by the integration plan related to our 2020 merger with Mobile Mini, Inc.
+Added: ("Mobile Mini"), combining our legacy modular and storage sales and operations teams under a single leadership structure, organized by geography.
This cost‑effective coverage model allows us to go-to-market locally with a single team to service our local and regional customers across our full offering of turnkey space solutions, while also addressing the needs of larger national customers looking for a full suite of high-quality services that can be provided on a consistent basis throughout North America.
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We are able to dynamically price and approach customer accounts in a strategic and statistically informed manner.
−Removed: We also believe our ability to leverage this data helps us to increase our market share and effectively manage supply and demand dynamics in our fleet to maximize cash flow in all phases of the economic cycle, including identifying opportunities where underutilized lease fleet can be sold to generate cash.
+Added: We also believe our ability to leverage this data helps us to increase our market share and effectively manage supply and demand dynamics in our fleet to maximize cash flow in all phases of the economic cycle, including identifying opportunities where underutilized lease fleet can be sold or otherwise disposed to generate cash or provide other cost savings.
Similarly, advancements in technology continue to drive efficiency improvements in our business, enabling us to offer an enhanced experience for our customers.
−Removed: During 2024, we consolidated and upgraded our logistics and service platform and began work on algorithm-based route optimization processes, which allow us to better utilize our logistics resources across all product lines while improving execution, safety, and customer communications.
−Removed: We anticipate further enhancements to this platform in 2025 and beyond to further enhance route optimization and to expand omni-channel communication with our customers.
−Removed: In conjunction with the 2024 rebranding, we launched a redesigned website at www.willscot.com, consolidating multiple digital platforms into a single resource for customers to access our full range of offerings and identify space solutions that are optimal for their unique needs and industries.
−Removed: Additionally, we introduced new powerful digital marketing, customer service, and sales tools to enhance the digital experience for customers.
−Removed: We launched an enhanced customer portal with expanded customer self-service capabilities, enabling customers to request quotes, manage invoices and make payments, submit support requests, track status, remotely monitor units, and chat with a specialist.
−Removed: During 2024, we also launched a new digital marketing initiative to modernize how we generate demand and convert to orders and activations within our target segments.
−Removed: These digital tools are in turn directly feeding into our CRM platform as well as our proprietary sales tool Project One, which leverages multiple third-party and internally generated data sources to identify developing project opportunities, prioritize the leads, and recommend actions to our sales representatives.
−Removed: This gives us a platform to further optimize selling time and conversion and allows us to be more prescriptive, recommending the appropriate bundled solutions that are tailored by project type.
−Removed: We believe we possess market-leading technology infrastructure relative to our competition, and we intend to extend this advantage further by leveraging our infrastructure investments.
+Added: Given our customer-centric focus, we introduced a digital customer service portal to further streamline the customer experience for key touchpoints, such as ordering, scheduling, invoicing, and payment.
+Added: During 2025, we continued to develop our route and schedule optimization processes to better utilize our logistics resources across all product lines, improve the customer experience, and differentiate from the competition.
+Added: We believe our technology infrastructure is market-leading and plan to strengthen this advantage by leveraging our CRM and ERP platforms to improve operational efficiency and customer service.
+Added: We intend to roll out further enhancements to our sales enablement platform in early 2026 to provide complete, accurate, and timely visibility into every project opportunity.
+Added: This platform will enable sharper qualification, intelligent project prioritization, and more effective pursuit strategies for our sales team.
+Added: New account and project data optimization capabilities will unify all activities into a prioritized workspace, ensuring sales teams focus on the highest‑value actions that drive results.
+Added: Enhanced routing and call‑intelligence tools, including zip‑code–based assignment, customer identification and insights, and a modernized interactive voice response ("IVR") should reduce friction and accelerate response times.
+Added: We expect these innovations will elevate sales efficiency, execution quality, and customer engagement across the commercial organization.
Sophisticated Logistics and Service Capabilities
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Diversified Revenue Base by End Market, Product, Service and Geography
−Removed: We have established strong relationships with a diverse customer base, ranging from large national accounts to small local businesses.
+Added: We have established strong relationships with a diverse customer base, ranging from large enterprise accounts that operate on a national scale, to small local businesses.
Our customers operate in a diversified set of end markets.
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We have a strong track record of integrating and generating significant revenue and cost synergies with our acquisitions.
−Removed: Since our public listing in 2017, we have executed 36 acquisitions totaling approximately $4.7 billion in total enterprise value.
−Removed: These transactions have included small local storage portfolios, regional operators with mixed modular and storage fleets, and larger transformational acquisitions such as Modular Space Corporation in 2018 and Mobile Mini in 2020.
+Added: Since our public listing in 2017, we have executed approximately 40 acquisitions totaling approximately $4.9 billion in total enterprise value.
+Added: These transactions have included small local storage portfolios, regional operators with mixed modular and storage fleets, including climate-controlled storage units, clearspan and perimeter solution assets, and larger transformational acquisitions such as Modular Space Corporation in 2018 and Mobile Mini in 2020.
In 2023, we acquired a US national provider of cold storage solutions, a regional modular space manufacturing and leasing business, and a US national provider of premium large clearspan structures.
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Also in 2024, we acquired certain assets of three regional and local modular space and storage businesses, and, given the scalability of our operating platform, quickly integrated these assets into our leasing portfolio and branch network.
+Added: In 2025, we acquired a regional provider of climate-controlled containers and trailers, as well as, rental fleet assets from two local companies.
Opportunities such as these allow us to reach new customers, expand our product and service offering, and provide further opportunities for revenue and cost synergies.
−Removed: See “Risk Factors—We may be unable to successfully acquire and integrate new operations, which could cause our business to suffer."
Our Asset Base Provides Highly Attractive Asset-Level Returns with Long Useful Lives
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As such, we have made significant investments in our lease fleet both organically through fleet purchases and through mergers and acquisitions.
−Removed: For the year ended December 31, 2024, our modular space and portable storage lease fleet consisted of approximately 128 million square feet of relocatable space, comprising over 152,000 modular space units and over 210,000 portable storage units.
+Added: For the year ended December 31, 2025, our modular space and portable storage lease fleet reflecting the impacts of our recent Network Optimization Plan consisted of approximately 100 million square feet of relocatable space, comprising over 128,000 modular space units and over 176,000 portable storage units.
We generate an attractive internal rate of return ("IRR") in our modular space portfolio driven by the long economic life of our fleet, exceeding 20 years on average, and our in-house refurbishment capabilities that extend useful lives and enhance returns.
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Our Business Generates Predictable Recurring Cash Flow Due to Our Long-Term Leases and Flexible Capex Requirements
−Removed: Our recurring revenue, combined with our flexible capex requirements and efficient use of working capital has allowed us to generate substantial free cash flow, both in periods of growth and during economic downturn.
−Removed: We believe the long-term nature of our leases, with average lease durations of approximately 41 months as of December 31, 2024, produces strong operating income and predictable cash flow.
+Added: Our recurring revenue, combined with our flexible capital expenditure ("capex") requirements and efficient use of working capital has allowed us to generate substantial free cash flow, both in periods of growth and during economic downturn.
+Added: We believe the long-term nature of our leases, with average lease durations, excluding seasonal portable storage units, of approximately 42 months, as of December 31, 2025, produces strong operating income and predictable cash flow.
Due to the longevity and relative simplicity of our products, we exercise control and discretion over capex, investing only where and when needed to meet demand, and selling excess fleet during lower utilization periods.
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Modular Space Market
−Removed: The modular space market is fragmented.
+Added: The modular space market is highly fragmented.
Modular space units are non-residential structures designed to meet federal, provincial, state, and local building codes and, in most cases, are designed to be relocatable.
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• Growing need and demand for space:
−Removed: driven by general economic activity, including gross domestic product growth, industrial production, mining and natural resources activity, non-residential construction, urbanization, public and education spending, the scale and frequency of special events, and increased occurrences of natural disasters such as hurricanes, tornados, and wildfires.
+Added: driven by general economic activity, including GDP, industrial production, mining and natural resources activity, non-residential construction, urbanization, public and education spending, the scale and frequency of special events, and increased occurrences of natural disasters such as hurricanes, tornados, and wildfires.
• Shift from traditional fixed, on-site built space to modular space solutions:
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Some of our competitors may have greater market share in certain geographic regions.
−Removed: Significant competitors include McGrath RentCorp, United Rentals, ATCO Structures & Logistics, and Satellite Shelters.
Our Business and Growth Strategies
−Removed: We intend to maintain a leading market position and increase our revenue and profitability by pursuing the following strategies, all of which we have demonstrated in our historical operating performance:
−Removed: Expand Adjacent Solutions and Value-Added Products
+Added: We intend to maintain a leading market position and increase our revenue and profitability by pursuing the following strategies:
+Added: Drive Local Market Execution
+Added: As part of our growth strategy, in 2025, we implemented a new sales coverage model to increase accountability and collaboration in all geographies.
+Added: To expand on our strategy, we are supplementing existing general management oversight of our sales teams with additional support for our sales representatives by repurposing functional sales support roles into Regional sales management roles.
+Added: We believe this will provide consistent leadership across the field and inside sales teams for improved organizational alignment at the territory, account, and product levels to sell our full spectrum of capabilities.
+Added: Together with sales enablement tools, we have more precision and control over how we go to market locally, providing improved targeting of project opportunities, improving customer conversion, and driving value per transaction.
+Added: We believe this structure will help drive revenue growth, increase market penetration, and expanding existing customer relationships.
+Added: As part of our focus on the local market, we introduced an ecommerce solution to improve the efficiency and simplicity of customer interactions for portable storage containers.
+Added: We believe this streamlines the customer experience across key touchpoints, including quoting and scheduling, in a transactional product category with a different sales cycle.
+Added: By leveraging our technology infrastructure, we believe we can compete more effectively while allocating resources to other strategic areas of focus.
+Added: Develop Enterprise Accounts and Verticals
+Added: We believe the expansion of enterprise accounts through large-scale projects and multi-site presence will be a primary growth lever.
+Added: Our largest customers represent an immediate and actionable growth opportunity across North America, and we are positioned well to serve major sectors of the economy with our product and service capabilities.
+Added: During 2025, we expanded account management teams and vertically-aligned business development resources to build our enterprise account customer portfolio and more importantly, create focused go-to market strategies that leverage our full product offering to service the specific needs of the customers in those unique vertical end markets.
+Added: We repositioned leaders at the Company to enhance and oversee verticals with existing talent and industry knowledge.
+Added: We believe this structure allows us to take a more targeted approach with dedicated teams focused on capturing increased wallet share with existing accounts and adding new lookalike accounts within the same industry vertical.
+Added: By leveraging this alignment, our product expertise, geographical reach, and operational execution are competitive differentiators that create a pathway of growth for enterprise accounts.
+Added: Expand Value-Added Solutions
We continue to expand our portfolio of space solutions, including climate-controlled storage, clearspan structures, and sanitation, among others.
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We are approaching these adjacent offerings with a balanced combination of organic investment, acquisition, and new product innovation.
−Removed: During 2023, we acquired a US national provider of cold storage solutions and a US national provider of premium large clearspan structures.
+Added: During 2023, we acquired a US national provider of climate-controlled storage solutions and a US national provider of premium large clearspan structures.
These acquisitions allowed us to establish market leadership positions in both climate-controlled storage and clearspan structures.
−Removed: During 2024, we grew our climate-controlled storage and clearspan businesses organically and through the acquisitions of assets of two regional providers of cold storage solutions and a US national provider of premium large clearspan structures.
−Removed: VAPS have been a prominent growth driver in our business for almost a decade.
−Removed: We believe this growth opportunity could be substantially larger if we successfully penetrate more of our modular space and portable storage units and continue to expand our VAPS offerings through new product introductions, which give us opportunities to build on lease revenues while providing more comprehensive solutions to customers.
+Added: During 2025 and 2024, we grew our climate-controlled storage and clearspan businesses organically and through the acquisitions of assets of three regional providers of climate-controlled storage solutions and two national providers of premium large clearspan structures.
+Added: In 2026, we plan to introduce the Quick Connect Canopy ("QCC") as a new organic, ground up development of our clearspan solutions.
+Added: The QCC clearspan product will be a rapidly deployable, rugged and repeatable canopy-like space solution that mounts to ISO corner castings on our portable storage, GLO, FLEX, and climate-controlled units to provide overhead weather protection for people, equipment, materials, and working areas.
+Added: VAPS have been a prominent growth driver in our business for a decade.
+Added: We believe this growth opportunity could be substantially larger if we successfully increase penetration of our modular space and portable storage units and continue to expand our VAPS offerings through new product introductions, which give us opportunities to build on lease revenues while providing more comprehensive solutions to customers.
In 2024, we achieved new product introductions through innovative development, including our proprietary solar racking systems, and through the acquisition of a US regional provider of perimeter solutions.
−Removed: Leverage Scale and Organic Initiatives with Accretive Acquisitions
−Removed: Our markets for modular space and portable storage solutions are fragmented.
−Removed: We believe we have the broadest network of operating branches in North America, as well as a scalable corporate center and information technology systems, which position us to continue to acquire and integrate other companies while expanding the products and services available and offered to acquired customers.
−Removed: We have a proven track record of efficiently integrating acquisitions and quickly eliminating operational redundancies.
−Removed: We expect to continue to pursue acquisitions of adjacent offerings to expand geographic reach, capabilities, and overall scale.
−Removed: We also plan to continue our programmatic tuck-in strategy opportunistically to provide further scale efficiencies and improve returns generated by the acquired assets.
+Added: During 2025, we began the organic expansion of our perimeter solutions business and plan to continue this expansion across our branch network over time.
Optimize Lease Rate
−Removed: We continue to advance multiple pricing strategies, product differentiation and positioning, customer and transaction segmentation, and contract standardization across our fleet to drive revenue growth.
−Removed: Our long history of rate growth gives us confidence that we can continue to successfully deploy this strategy.
−Removed: The turnover of our fleet, with average lease durations of approximately three years, creates natural and reoccurring opportunities to capture incremental price increases.
−Removed: As the market leader in our industry, we offer the broadest fleet portfolio, the most differentiated turnkey VAPS, and the most consistent service capabilities across the largest branch network to help our customers 'Right from the Start.'
−Removed: Enhance Market Penetration Through Increased Sales Force Effectiveness
−Removed: Our US and Canadian teams operate using a single CRM software platform which provides greater visibility into our customer base and enhances our ability to cross-sell our portfolio of products to our customers.
−Removed: Our sales force is positioned to improve efficiency by leveraging our management information systems and using real-time information to monitor and optimize conversion of customer opportunities across our product lines.
−Removed: Our proprietary sales tool leverages multiple third-party and internally generated data sources to identify developing project opportunities, prioritize the leads, and recommend actions to our sales representatives.
−Removed: This gives us a platform to further optimize selling time and conversion and allows us to be more prescriptive recommending the appropriate bundled solutions that are tailored by project type.
−Removed: We believe our ability to leverage data helps us to significantly accelerate our market share convergence as well as increase penetration of our VAPS, while enhancing customer satisfaction.
−Removed: In turn, we expect that our broadened and enhanced fleet will continue to attract new customers and increase customer retention.
−Removed: Lastly, we also expect our recent investments in a single website, digital marketing capabilities, and our enhanced customer portal will enable us to capture additional demand.
−Removed: Generate Cash Flow Through Operational Efficiencies, Cost Reductions, and Technology
−Removed: We are implementing many initiatives designed to improve operations and increase profitability.
−Removed: We continually assess our branch operating footprint, vendor base, and operating structure to maximize revenue generation while minimizing costs.
+Added: We continue to advance pricing strategies to support product differentiation and positioning, customer and transaction segmentation, and contract standardization across our portfolio to reinforce our value proposition and drive revenue growth.
+Added: Our long history of rate growth is evidence of our differentiated capabilities, continuous focus on innovation, and superior service levels.
+Added: The turnover of our lease portfolio, with average lease durations of approximately three years, creates natural and reoccurring opportunities to adjust pricing based on changes in customer behavior.
+Added: As the market leader in our industry,
+Added: we offer the broadest fleet portfolio, the most differentiated turnkey VAPS, and the most consistent service capabilities across the largest branch network to help our customers "Right from the Start."
+Added: Focus on Operational Excellence and Continuous Improvement
+Added: We have numerous opportunities to improve operations and efficiency and prioritize these based on impact to growth, profitability, and the customer experience.
+Added: We regularly assess our branch operating footprint, vendor base, and operating structure to maximize revenue generation while minimizing costs.
We believe the increased scale, numerous operational best practices, SAP ERP platform, and consolidated CRM platform will significantly improve our operating efficiency over time.
To improve our logistics capabilities, in 2024 we implemented a consolidated logistics platform and route optimization processes to minimize mileage, fuel cost and emissions.
−Removed: With a single ERP, CRM platform, and logistics platform in place, we unified our go-to-market approach for our modular and storage businesses to a single field sales and operations management structure where all modular and storage products are managed by a unified team in each local geographic market.
−Removed: We believe this new structure allows us to cross-sell our various products more effectively by being closer to our customers' needs in each geographical market, improves operations through
−Removed: sharing of logistics and service capabilities, and provides increased opportunities for our employees for career development and growth as we continue to expand our product offerings and services.
+Added: With a single ERP, CRM platform, and logistics platform in place, we have begun a multi-year effort to optimize our back-office functions and shared services.
+Added: And throughout 2024, we unified our go-to-market approach for our modular and storage businesses to a single field sales and operations management structure where all modular and storage products are managed by a unified team in each local geographic market.
+Added: We believe this new structure allows us to cross-sell our various products more effectively by being closer to our customers' needs in each geographical market, improves operations through sharing of logistics and service capabilities, and provides increased opportunities for our employees for career development and growth as we continue to expand our product offerings and services.
+Added: With this structure complete and stabilized, in 2025 we began reviewing our real estate positions in the various markets where we operate in to identify opportunities to reduce costs within our branch operating footprint.
+Added: During 2025, we exited 60 acres of real estate and initiated a comprehensive network optimization initiative ("Network Optimization Plan") to reduce real estate costs without compromising our customer service capabilities and value proposition.
+Added: The multi-year initiative encompasses exiting an additional 665 acres of real estate over the next four years and abandoning approximately 53,000 units (approximately 31,000 portable storage units and 22,000 modular space units) with a net book value of $312.1 million.
+Added: As a result, we expect to moderate anticipated annual real estate cost increases by $25 million to $30 million over the next four years while maintaining market coverage across the entire footprint and sufficient idle fleet to serve future demand.
+Added: For more information on our Network Optimization Plan, see Significant Developments in Item 7.
+Added: Management's Discussion and Analysis of Financial Condition and Results of Operations.
+Added: Leverage Scale and Organic Initiatives with Accretive Acquisitions
+Added: Our markets for modular space and portable storage solutions are highly fragmented.
+Added: We believe we have the broadest network of operating branches in North America, as well as a scalable corporate center and information technology systems, which position us to continue to acquire and integrate other companies while expanding the products and services available and offered to acquired customers.
+Added: We have a proven track record of efficiency integrating acquisitions and quickly eliminating operational redundancies.
+Added: We expect to continue to pursue acquisitions of adjacent offerings to expand geographic reach, capabilities, and overall scale.
+Added: We also plan to continue our programmatic tuck-in str ategy opportunistically to provide further scale efficiencies and improve returns generated by the acquired assets.
Deploy Capital to Strategically Support Organic Growth and Optimize Returns
We maintain a disciplined focus on our return on capital and invest opportunistically across multiple uniquely attractive asset classes, prioritizing our investments to where we see the strongest potential returns.
−Removed: We continually assess both our existing lease fleet and customer demand for opportunities to deploy capital more efficiently.
+Added: We regularly assess both our existing lease fleet and customer demand for opportunities to deploy capital more efficiently.
We manage our maintenance capex and growth capex to align with the economic conditions in which we operate.
2 unchanged sentences
Use Free Cash Flow to Drive Value Creation
−Removed: Our Free Cash Flow generation has accelerated rapidly in recent years, and we expect this trend to continue as we execute our strategy.
−Removed: While we see numerous organic and inorganic opportunities to re-invest in our core businesses, we believe we can generate surplus Free Cash Flow with which we can both reduce leverage and return capital to shareholders over time via share repurchases and dividend distributions.
−Removed: We view disciplined and prudent capital allocation as an additional powerful value creation lever, and we are committed to deploying this capital as productively as possible in the interests of our shareholders.
+Added: Our Free Cash Flow generation has accelerated rapidly in recent years, and we expect this trend to continue over time as we execute our strategy.
+Added: While we see numerous organic and inorganic opportunities to re-invest in our core businesses, we believe we can generate surplus Free Cash Flow with which we can both reduce leverage and return capital to stockholders over time via share repurchases and dividend distributions.
+Added: We view disciplined and prudent capital allocation as an additional powerful value creation lever, and we are committed to deploying this capital as productively as possible in the interests of our stockholders.
Human Capital Management
+Added: We believe that one of our main competitive advantages is our people - evident in the milestone anniversaries that we celebrate, our thriving peer recognition program, and our ability to attract and retain talent with expertise that strengthens our team and adds value to our customers.
As of December 31, 2025, we employed approximately 4,700 people in the US, Canada, Mexico, and India, the majority of whom are full time.
−Removed: Approximately 72% of employees work in our approximately 260 branch locations and additional drop lots, while 28% of employees serve in various shared services and corporate functions.
−Removed: We have not experienced a strike or significant work stoppage, and we consider our relations with our employees to be good.
−Removed: The Compensation Committee of our Board of Dir ectors ("Board of Directors" or "Board") is responsible for providing oversight of our human capital strategy.
−Removed: Our Executive Vice President - Chief Human Resources Officer, in collaboration with our executive leadership team, leads efforts to align human capital resources with our strategic objectives.
−Removed: At WillScot, we believe that one of our main competitive advantages is our people - evident in the milestone anniversaries that we celebrate, our thriving peer recognition program, and our ability to attract and retain talent with expertise that strengthens our team and adds value to our customers.
−Removed: Our Company values are lived through our employees, acknowledged by our vendors and aligned to the needs of our customers and communities.
−Removed: Our values provide the basis of our approach to human capital management as well as how we engage with our stakeholders.
+Added: Approximately 81% of employees work in our approximately 260 branch locations and additional drop lots, while 19% of employees work in our support center locations.
+Added: In 2025, the Company was certified for the third consecutive year as a Great Place to Work® based solely on feedback from employees.
+Added: Our Company values provide the basis of our approach to human capital management as well as how we engage with our stakeholders.
Company Values
7 unchanged sentences
We measure success through our results and the achievement of our goals.
−Removed: We continuously seek to improve ourselves, our products and services in pursuit of shareholder value.
+Added: We seek to continuously improve ourselves, our products and services in pursuit of stockholder value.
• Trustworthy & Reliable:
8 unchanged sentences
Physical Well-being
−Removed: We provide benefits to all employees in the US, Canada, Mexico, and India that enhance our employees' well-being and support their health and welfare.
−Removed: We provide comprehensive medical benefits to all US-based employees, whether hourly or salaried.
−Removed: Core healthcare coverage includes medical, dental and vision benefits, and we pay an average of 75% of the cost of employee premiums.
−Removed: We offer high-deductible healthcare plans to all eligible employees to promote positive consumer behaviors.
−Removed: Through Health Savings Account (“HSA”) contributions, we cover between 35% and 50% of plan deductibles.
−Removed: We also provide paid parental leave.
−Removed: Additional programs include employer-paid short- and long-term disability, basic life insurance and AD&D, as well as voluntary supplemental medical benefits, legal, ID theft, home and auto insurance, and pet insurance.
−Removed: Recognizing that physical well-being is a journey, we also offer additional medical plan benefits including family planning
−Removed: support for fertility treatment, adoption and surrogacy, and personalized care for chronic conditions including diabetes and back, joint, and muscle pain.
+Added: We provide comprehensive medical, dental and vision benefits to all US-based employees, whether hourly or salaried.
+Added: We also provide paid leaves for eligible employees, including paid parental, caregiver, bereavement, and military leave.
+Added: Additional programs include employer-paid short- and long-term disability, basic life insurance and accidental death and dismemberment insurance, as well as voluntary supplemental medical benefits, legal, identity theft, home and auto, and pet insurance.
+Added: Recognizing that physical well-being is a journey, we also offer additional medical plan benefits including family planning coverage, personalized care for chronic conditions, including diabetes and back, joint, and muscle pain, a weight health program, and care coordination for cancer and surgery.
+Added: We sponsor virtual health challenges for employees to encourage daily activity and a spirit of healthy competition.
Financial Well-being
Providing financial security for our employees is critical to overall well-being.
−Removed: Approximately 90% of employees participate in our 401(k) retirement savings program, which includes a Company match up to 4.5% on the first 6% of an employee’s contribution.
−Removed: We matched $15.1 million in 401(k) contributions in 2024.
−Removed: We also offer several educational services employees can use to strengthen their financial acumen.
+Added: Approximately 90% of US-based eligible employees participate in our 401(k) retirement savings program.
+Added: We also offer several educational services employees can use to strengthen their personal financial acumen and improve retirement readiness.
In addition to supporting employees’ long-term financial security, we employ market-based pay practices to ensure fair, competitive wages at every level of the organization.
−Removed: We use compensation benchmarking data from human capital consulting firms to set and maintain pay ranges and pay levels in line with market-based standards.
+Added: We use compensation benchmarking data from reliable human capital consulting firms to set and maintain pay ranges and pay levels in line with market-based standards.
We also administer multiple incentive pay plans designed to motivate and reward eligible employees commensurate with Company performance.
−Removed: Incentives may be either individually-based (sales commissions and bonuses), group-based (regional performance bonuses), or Company-based (corporate and executive employees).
+Added: Incentives may be either individually-based (sales commissions or bonuses), group-based (regional performance bonuses), or Company-based (support center employees).
+Added: The Company also sponsors the Minions of Kindness Fund, an employee-funded 501(c)(3) organization that provides financial support to support WillScot employees in times of distress.
Emotional Well-being
Caring for the emotional well-being of our employees means offering programs that meet a diverse range of work-life needs.
−Removed: Our Employee Assistance Program ("EAP") provides both mental health access and practical support for personal needs.
−Removed: From short-term counseling to clinical support for anxiety, depression and stress-related issues or substance abuse, our EAP enables our employees to access the care they need.
−Removed: Employees and members of their household can also access financial experts and legal guidance for help including retirement planning, tax assistance, wills and trusts and family law matters.
−Removed: Inclusion, Diversity, Equity and Accessibility
−Removed: Our commitment to inclusion at all levels of the organization is amplified by our Inclusiveness Resource Teams (“IRTs”):
+Added: Our Employee Assistance Program ("EAP") provides both mental health access and practical support for personal needs for employees and their families.
+Added: We actively engage in the communities we serve and deliver sustainable solutions.
+Added: Our Company's reach allows us to support all the communities in which we work and live.
+Added: In addition to giving to charitable organizations that are meaningful to our employees and their communities through "Give Where You Live," we have national, non-profit partnerships with certain 501(c)(3) organizations in our core causes of Shelter, Hunger, Education, and Health & Wellness.
+Added: Through these partnerships, our employees participate in build days with Habitat for Humanity, food drives and food bank volunteering with Feeding America and Food Banks Canada, blood drives and other volunteering opportunities with the American Red Cross, and work readiness, and financial awareness, and entrepreneurship programs for students with Junior Achievement.
+Added: We provide employees up to 16 hours per year in volunteer paid time off to participate in “Give Where You Live” activities that are most meaningful to our employees.
+Added: Our community focus is amplified by our Employee Resource Groups ("ERGs"):
Women of WillScot (“WOW"), Black Organization for Leadership & Direction (“BOLD”), Veterans United, Hispanos, People Respecting that Identity and Sexuality Matters (“PRISM”), and Indigenous Connection.
−Removed: IRTs are voluntary, employee-led groups that work to foster an inclusive and diverse workplace aligned with our values and strategy.
−Removed: These groups were established to support our employees from specific demographic groups and their allies, to provide opportunities for development and sharing the lived experiences of our employees.
−Removed: We are stronger together when we celebrate our differences and strive for inclusiveness.
−Removed: Our IRTs encourage collaboration and support the diverse voices and thoughts of our employees and communities.
+Added: ERGs are employee-led groups open to all employees and focused on creating a workplace where our team can share experiences.
+Added: Our employee listening programs include multiple pulse surveys throughout the year in addition to roundtable discussions, live question and answer with leadership during quarterly townhall meetings, which together give employees agency to inform Company programs and policies.
+Added: In 2025, we continued our partnership with the Great Place to Work Institute and participated in the Trust Index survey.
+Added: As a result of feedback from employees on their work-life experience and our culture, the Company certified for the third consecutive year as a Great Place to Work ®
Learning and Development
We measure success through our results and the achievement of our goals.
−Removed: We continuously improve ourselves, our products and services in pursuit of shareholder value.
−Removed: In 2024, our employees completed more than 35,000 hours of training across a range of courses dedicated to compliance, safety and job-related learning and skill development.
−Removed: Our learning and development system houses a library of more than 6,000 courses.
−Removed: We also offer a language learning program and tuition reimbursement.
+Added: We seek to continuously improve ourselves, our products, and our services in pursuit of stockholder and customer value.
+Added: In 2025, our employees completed more than 41,000 hours of training across a range of courses.
+Added: In 2025, more than half of training hours were dedicated to compliance, health and safety, with the remainder comprising role-specific learning or other skill development.
+Added: Our learning and development system houses a library of more than 19,000 courses and we offer tuition reimbursement for credentialed programs.
Our Driver Apprentice Program provides developmental opportunities for individuals interested in becoming a Commercial Driver’s License Class A driver for the Company.
−Removed: Our foundational leadership development program (“LDP”) enrolls an average of 70 participants annually.
+Added: Our leadership development program (“LDP”) is an immersive, collaborative course for employees with high potential for leadership roles.
We also host multiple in-person training events throughout the course of the year to connect employees to our strategic priorities and their career development goals.
−Removed: We are community focused.
−Removed: We actively engage in the communities we serve and deliver sustainable solutions.
−Removed: Our employees participate in pro-social giving through our “Give Where You Live” program and giving their time, talent and/or treasure to local non-profit organizations.
−Removed: We provide employees up to 16 hours per year in volunteer paid time off to participate in “Give Where You Live.”
−Removed: In addition to giving to charitable organizations that are meaningful to our employees and the communities we serve, we have national, non-profit partnerships with certain 501(c)(3) organizations in our core causes of Shelter, Hunger, Education and Health & Wellness.
−Removed: Through these partnerships, our employees participate in build days with Habitat for Humanity, food bank volunteering with Feeding America and St.
−Removed: Mary’s Food Bank, blood drives and emergency response initiatives with the American Red Cross, and work readiness and financial literacy programs with Junior Achievement.
Compliance and Risk Mitigation
4 unchanged sentences
Additionally, the new hire onboarding process covers cybersecurity and data safety training for all employees.
−Removed: When we source
−Removed: talent through external sources for skilled trades, sales associates, and professional staff, we retain reputable recruiting firms that perform background checks as part of our new hire process.
−Removed: The protection of people is a core value at WillScot.
−Removed: Our health and safety priorities are a driving force that shape who we are and what we do.
−Removed: Safety extends beyond our branches and yards and includes travel and activities at the customer sites.
−Removed: WillScot fosters an environment in which our employees feel empowered and choose to make the safest and best decisions possible.
−Removed: We empower and reward employees for being personally accountable and exceeding safety guidelines in every task.
−Removed: Proper safety culture fosters personal accountability, leading to increased safety, active employee engagement, and a strong commitment to the Company and our customers.
−Removed: Today, we believe we are operating at high levels of safety and low levels of injury.
−Removed: In 2024, our Total Recordable Incident Rate (“TRIR”) was 0.85, which translates to keeping our employees very safe, and we remain committed to creating a zero-harm culture.
−Removed: Every Company employee has “stop-work” authority allowing employees to stop work, report near misses, and identify improvements that impact their own safety and that of others, which supports our constant goal to identify and correct safety issues before they turn into incidents.
Sustainability
−Removed: We are committed to upholding high standards when it comes to our environmental, social and governance responsibilities, as well as the safety of our employees and our business partners.
As a leader in innovative and flexible space solutions, our approach to sustainability seeks to balance short-term and long-term solutions and considers the interests of our stakeholders in our everyday actions.
The principal products we provide to our customers are long-lived, reusable, and relocatable, while producing minimal waste;
−Removed: For decades, we have committed ourselves to circular economic practices to reuse as many of our assets as possible, which aligns with our 2024 rebrand tagline "Right from the Start" as we consider all stages of our product lifecycle.
−Removed: Our Board of Directors, at the direction of our Nominating and Corporate Governance Committee, is actively involved in our sustainability strategy and approach.
+Added: sustainability is inherent in our business model.
+Added: Our Board of Directors, through our Nominating and Corporate Governance Committee, is actively involved in the development of our sustainability strategy and approach.
We continue to execute on the five pillars of our sustainability strategy:
environmental responsibility, sustainable solutions for customers, effective governance, empowering our people, and community impact.
−Removed: In 2024, we enhanced our technology for tracking sustainability metrics to improve our ability to identify and act upon sustainability opportunities.
Our business is managed for long-term success in a manner that we believe is economically, environmentally and socially responsible, and our sustainability efforts are focused in areas where we see tangible business impact.
−Removed: Over the next several years, we will continue to focus on ensuring a future where the communities in which we operate and customers we support can thrive.
+Added: Our health and safety priorities are a driving force that shape who we are and what we do.
+Added: Safety extends beyond our branches and yards and includes travel and activities at the customer sites.
+Added: WillScot fosters an environment in which our employees feel empowered and choose to make the safest and best decisions possible.
+Added: Proper safety culture fosters personal accountability, leading to increased safety, active employee engagement, and a strong commitment to our Company and our customers.
+Added: We believe that we operate at high levels of safety and low levels of injury, and we remain committed to creating a zero-harm culture.
+Added: Every employee has “stop-work” authority allowing employees to stop work, report near misses, and identify improvements that impact their own safety and that of others, which supports our constant goal of identifying and correcting safety issues before they turn into incidents.
Intellectual Property
5 unchanged sentences
We believe that continued innovation differentiates WillScot with our customers and represents a source of long-term competitive advantage.
−Removed: Available Information
−Removed: Our website address is www.willscot.com.
−Removed: We make available, free of charge through our website, our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (the “Exchange Act”) as soon as reasonably practicable after such documents are electronically filed with, or furnished to, the United States Securities and Exchange Commission (the “SEC”).
−Removed: The SEC maintains an internet website at www.sec.gov that contains reports, proxy and information statements and other information regarding WillScot.
−Removed: Our website also includes various Corporate Governance Policies, Code of Business Conduct and Ethics and charters of the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee of our Board of Directors, among other policies.
Regulatory and Environmental Compliance
2 unchanged sentences
However, from time to time we may be subject to additional costs and penalties as a result of non-compliance.
−Removed: The discovery of currently unknown matters or conditions, new laws and regulations, or different enforcement or interpretation of existing laws and regulations could materially harm our business or operations in the future.
+Added: The discovery of currently unknown matters or conditions, new laws and regulations, or different enforcement or interpretation of existing laws and regulations could have a material adverse effect on our business or operations in the future.
We are subject to laws and regulations that govern and impose liability for activities that may have adverse environmental effects, including discharges into air and water and handling and disposal of hazardous substances and waste.
−Removed: As of the date of this filing, no environmental matter has been material to our operations.
+Added: As of the date of this Annual Report on Form 10-K, no environmental matter has been material to our operations.
Based on our management’s assessment, we believe that any environmental matters relating to us of which we are currently aware will not be material to our overall business or financial condition.
−Removed: The jurisdictions in which we operate are also subject to anti-bribery laws and regulations, such as the US Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”).
−Removed: These regulations prevent companies and their officers, employees, and agents from making payments to officials and public entities of foreign countries to facilitate obtaining new contracts.
−Removed: Violations of these laws and regulations may result in criminal sanctions and significant monetary penalties.
−Removed: Certain of our units and equipment are subject to regulation in certain states under motor vehicle and similar registrations and certificate of title statutes.
−Removed: We believe that the Company has complied, in all material respects, with all motor vehicle registration and similar certificate of title statutes in states where such statutes clearly apply to modular space units.
−Removed: We have not taken actions under such statutes in states where we have determined that such statutes do not apply to modular space units.
−Removed: However, in certain states, the applicability of such statutes to modular space units is not clear beyond doubt.
−Removed: If additional registration and related requirements are deemed to be necessary in such states or if the laws in such states or other states were to change to require us to comply with such requirements, we could be subject to additional costs, fees, and taxes as well as administrative burdens to comply with such statutes and requirements.
−Removed: We do not believe that the effect of such compliance will be material to our business or financial condition.
+Added: Available Information
+Added: Our website address is www.willscot.com.
+Added: We make available, free of charge through our website, our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act as soon as reasonably practicable after such documents are electronically filed with, or furnished to, the US Securities and Exchange Commission (the “SEC”).
+Added: The SEC maintains an internet website at www.sec.gov that contains reports, proxy and information statements and other information regarding WillScot.
+Added: Our website also includes various Corporate Governance Policies, Code of Business Conduct and Ethics and charters of the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee of our Board of Directors, among other policies.
+Added: The information available on, or that can be accessed through, our website is not incorporated by reference in or otherwise a part of this Annual Report on Form 10-K.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.