General Overview
McGrath RentCorp is a California corporation organized in 1979 with corporate offices located in Livermore, California. The Company’s common stock is traded on the NASDAQ Global Select Market under the symbol “MGRC”. References in this report to the “Company”, “we”, “us”, and “ours” refer to McGrath RentCorp and its subsidiaries, unless the context requires otherwise.
The Company is a diversified business to business rental company with three rental divisions: relocatable modular buildings, electronic test equipment, and liquid and solid containment tanks and boxes. Although the Company’s primary emphasis is on equipment rentals, sales of equipment occur in the normal course of business. The Company is comprised of four business segments: (1) Mobile Modular Management Corporation (“Mobile Modular”), which includes our modular building rental division and our portable storage business (“Mobile Modular Portable Storage”); (2) our electronic test equipment rental division (‘TRS-RenTelco”), which also includes our environmental test equipment rental business (“TRS-Environmental”); (3) Adler Tank Rentals, LLC, our wholly-owned subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids (“Adler Tanks”); and (4) Enviroplex, Inc., our wholly-owned subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (“Enviroplex”). Mobile Modular Portable Storage and TRS-Environmental each represent less than 2% of the Company’s 2011 total revenues.
No single customer has accounted for more than 10% of the Company’s total revenues generated in any given year. In addition, total foreign country customers and operations accounted for less than 10% of the Company’s revenues and long-lived assets in all years presented.
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