SOURCE: Algeco Scotsman

Algeco Scotsman

March 31, 2016 08:30 ET

Algeco Scotsman Announces Resignation of Chief Executive Officer and Appointment of Advisors

BALTIMORE, MD--(Marketwired - Mar 31, 2016) - Algeco/Scotsman Holding S.à r.l. (together with its subsidiaries, "Algeco Scotsman" or the "Company") today announced that Jean-Marc Germain, the Company's Chief Executive Officer and a member of its Board of Managers, will be resigning effective April 30, 2016. Mr. Germain is considering another leadership position at a large global company. He will remain in an advisory role with the Company until July 2016. The Company expects to name his successor before the end of April.

Gerry Holthaus, Chairman of the Board of Algeco Scotsman, commented, "I want to thank Jean-Marc for his dedicated service and significant contributions to our company. Under his leadership, our commercial focus and capital discipline have greatly improved. I also want to congratulate him on his next opportunity."

The Company also announced that its subsidiary, Algeco Scotsman Global S.à r.l., has hired PJT Partners (UK) Limited, as financial advisor, and Kirkland & Ellis LLP, as legal advisor, to advise regarding measures to enhance liquidity and to conduct a review of its current financing.

About Algeco Scotsman

Algeco Scotsman is the leading global business services provider focused on modular space, secure portable storage solutions, and remote workforce accommodation management. Headquartered in Baltimore, Algeco Scotsman has operations in 24 countries with a modular fleet of approximately 280,000 units. The company operates as Williams Scotsman and Target Logistics in North America, Algeco in Europe, Elliott in the United Kingdom, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.

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