![]() ![]() Zippy Shell, founded in 2009, merged with 1-800-PACK-RAT in mid-2018, creating a national network of over 71 warehouse facilities, reaching a total addressable domestic market of 240 million consumers. Gareth Taylor, Zippy Shell’s Founder and President, said, “For the past 10 years, we have been building and partnering with great financial institutions, and we are thrilled to be working with PNC Bank and Carlyle.” ![]() Mark Kuhns, Zippy Shell’s Chief Executive Officer, said, “We are excited to be working with both PNC Bank and Carlyle and look forward to working with our partners as we meet rapidly growing needs for simple, safe, convenient moving and storage solutions across the country.” We believe the overall financing structure is well suited for the company as we enter our next phase of growth.” Jesse Watson, Founding Partner of Virgo and Zippy Shell Chairman, said, “Zippy Shell and 1-800-PACK-RAT are strongly positioned for expansion in the moving and storage industry, and we are pleased to partner with both PNC Bank and Carlyle. The total financing package includes a $65 million first lien ABL from PNC Bank and the previously announced $75 million second lien term loan, plus $20 million preferred equity from Carlyle. The new financing package will provide capital to allow the company to make strategic acquisitions, open more storage locations, invest in its technology, and expand its fleet of storage containers and trucks. San Francisco, CA and Wake Forest, NC – Private equity firm Virgo Investment Group (Virgo) today announced that its portfolio company, Zippy Shell Incorporated (Zippy Shell), and its subsidiary 1-800-PACK-RAT, one of the largest containerized moving-and-storage companies in the United States, has secured $160 million in financing from The Carlyle Group’s Global Credit platform and PNC Bank. One of the Largest and Fastest Growing Containerized Moving and Storage Companies Will Receive $160 Million in Transitional Growth Capital From The Carlyle Group & PNC Bank Zippy Shell and Subsidiary 1-800-PACK-RAT Secure Financing From The Carlyle Group & PNC Bank
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