Williams Scotsman, a Baltimore-based company that rents out modular spaces, will purchase the parent company of Acton Mobile, a local competitor, for $235 million in cash from Prophet Equity, Williams Scotsman announced Tuesday.

The deal, which is expected to close this month, will add Towson-based Acton’s fleet of about 20,000 office trailers, storage units and other modular spaces — primarily for construction, commercial, industrial, education, health care and government projects — to Williams Scotsman’s portfolio, the company announced.

Williams Scotsman, headquartered in Fells Point, will have nearly 100,000 units serving about 35,000 customers in more than 100 locations in North America, it said. The company said the purchase will allow for “significant cost savings through operational efficiencies and sourcing initiatives.”

“We are excited to welcome Acton to the Williams Scotsman family,” said Brad Soultz, Williams Scotsman’s president and CEO. “Acton shares our core values, and is highly complementary to our business. The acquisition better positions Williams Scotsman to provide our Ready to Work solutions on a greater scale and will create further opportunities for our employees, customers and vendors.”

In October, Williams Scotsman’s European parent company sold the Baltimore-based company to Double Eagle Acquisition Corp., a publicly traded Los Angeles investment firm owned by a pair of Hollywood executives, for $1.1 billion.

Soultz said his company is focused on driving growth and shareholder value “through the pursuit of targeted acquisitions.”

“We believe this transaction is a tremendous opportunity for our stakeholders, and I look forward to working with the Acton team to help Williams Scotsman achieve even greater success,” he said.

Ingrid West, president of Acton, said the deal will allow the company to further serve existing customers and expand its reach in the growing market for mobile offices.

“Since our founding almost 50 years ago, Acton Mobile has been passionate about delivering products that enhance the customer experience,” she said. “Brad and his team are uniquely talented to carry that passion forward and more importantly, I believe that they have the vision and operational experience to maximize exciting growth opportunities in the near and long-term.”

The transaction, subject to customary closing conditions, will be funded with cash on hand and borrowings under a revolving credit agreement, Williams Scotsman said.