A company backed by the Permira funds announced that it will acquire BakerCorp, the leading provider of equipment rental solutions for liquid and solid containment applications in North America for $960 million. The acquisition is subject to customary regulatory approvals and is expected to close by July 2011.

BakerCorp, founded in 1942, is the industry leader in containment, pump, filtration and trench shoring solutions. With over 100 locations in North America and Europe, BakerCorp offers integrated solutions to its customers in attractive end markets including industrial services, refining, oil and gas, environmental remediation, power, municipal and construction. BakerCorp’s fast-growing European operations serve customers from five locations in Germany, France and the Netherlands.

The Permira funds will back the current management team as they accelerate the growth of BakerCorp both in the U.S. and internationally. Building on its track record of expanding product capabilities to serve the complex needs of its customers, BakerCorp will focus on extending its product and service offering through its existing branch network and in new locations. BakerCorp plans to continue its expansion into new geographic regions in North America, Europe and other attractive international markets.

Richard Carey, Partner and co-Head of the Global Industrials Group at Permira, commented: “BakerCorp exemplifies the type of business in which the Permira funds seek to invest – a strong market leader with a unique customer value proposition and numerous growth opportunities. We are delighted to be partnering with

BakerCorp as the Company seeks to accelerate its growth and international expansion plans.”

Bryan Livingston, chief executive officer of BakerCorp, commented: "We are excited to be working with the Permira funds, which have a demonstrated track record of

building long-term value for portfolio companies throughout the world. We believe that the Permira funds’ experience and global capabilities make them an ideal partner for BakerCorp to take advantage of the significant opportunities for the Company both domestically and abroad."