SOURCE: Algeco Scotsman

Algeco Scotsman

September 09, 2016 08:30 ET

Algeco Scotsman Names Diarmuid Cummins Chief Executive Officer

BALTIMORE, MD--(Marketwired - Sep 9, 2016) - Algeco/Scotsman Holding S.à r.l. (together with its subsidiaries, "Algeco Scotsman"), the leading global business services provider of modular space, secure portable storage solutions and remote workforce accommodations, today announced the appointment of Diarmuid Cummins, 47, as Chief Executive Officer, effective September 1, 2016.

"We are pleased to have Diarmuid Cummins join our company as Chief Executive Officer," said Gerry Holthaus, Chairman of Algeco Scotsman. "Diarmuid has worked closely with the management team of AS while he was a Partner at TDR and we believe that his familiarity with Algeco Scotsman and its business and his international business and operations experience gained over the past decades will be invaluable as the company enters its next phase of growth and development."

Cummins joins Algeco Scotsman from TDR Capital LLP ("TDR"), a United Kingdom based investment fund manager and the investment manager of the indirect majority shareholder of Algeco Scotsman, where he most recently served as a Partner. He joined TDR in January 2011. Prior to joining TDR, he was Managing Director of Phoenix Group's corporate office, having joined in 2008.

Cautionary Notice Regarding Forward Looking Statements

This press release may contain forward-looking statements. Although any such forward-looking statements reflect management's current beliefs based upon information currently available to management and upon assumptions which management believes to be reasonable, actual results may differ materially from those stated in or implied by these forward-looking statements. A number of factors could cause actual results, performance or achievements to differ materially from the results expressed or implied in any forward-looking statements, including: the condition of the global capital markets; global economic conditions, including in the oil and gas industry; changes in demand within key industry end-markets and geographic regions; the competitive environment in which Algeco Scotsman operates; changes in federal, state and local laws and regulations; changes in raw material and labor costs; and the ability to retain and recruit key personnel. These factors should be considered carefully and readers should not place undue reliance on any forward-looking statements. Except as required by law, Algeco Scotsman undertakes no obligation, and specifically declines any obligation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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 25 countries with a modular fleet of approximately 275,000 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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