Trending...
- Qscription Technologies Appoints Radiology Industry Veteran Elliot Silverman to Advisory Board
- New School Announces Student Enrollment
- Mr. Hospital Bed Helps Home Care Buyers Find the Right Hospital Bed
One of the Largest and Fastest Growing Containerized Moving and Storage Companies Will Receive $160 Million in Transitional Growth Capital
WAKE FOREST, N.C. & SAN FRANCISCO - PennZone -- 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.
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. 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.
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. We believe the overall financing structure is well suited for the company as we enter our next phase of growth."
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."
More on The PennZone
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."
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. The company provides an alternative to traditional temporary storage and moving options by delivering containers that are dropped off directly at a customer's location, filled with their belongings on their schedule and then stored at a drop-off site and/or at a company location, or moved to the destination for unloading by the consumer. Zippy Shell has seen steady growth in demand for its services, particularly long-distance moves and local storage, since its combination with 1-800-PACK-RAT in 2018. 1-800-PACK-RAT was founded in 2002 in North Carolina and has seen impressive growth throughout the years in both residential and commercial markets.
ABOUT VIRGO
Founded in 2009, Virgo is a private investment firm based in the San Francisco Bay Area that has an established track record of building and transforming businesses. Virgo seeks to grow differentiated business models into profitable, industry leading companies. Virgo's two distinct strategies focus on creating, building and scaling credit/asset-based businesses, and growth equity investments in Founder-led or Family-owned companies where the Firm executes transformative growth. The Firm has raised over $1.8 billion and completed 61 investments to date. For more information, please visit www.virgo-llc.com.
More on The PennZone
ABOUT ZIPPY SHELL
Zippy Shell was founded in Australia by Gareth Taylor in 2007 and launched in the United States in 2009. They merged with 1-800-PACK-RAT in 2018, and their moving and storage solutions combine the benefits of traditional moving services with the security and convenience of containerized solutions. Their innovative equipment design and flexible service options are delivering on their commitment to make moving and storage simple for both residential and commercial customers. They were recently recognized as one of the fastest growing companies by Inc 5000. To learn more about their services, which include local and long-distance moving, mobile storage, on-site storage, and loading/unloading and packing referral services, visit https://www.zippyshell.com/ or https://www.1800packrat.com.
Media Contacts
Virgo Investment Group
Chris Mezzavilla
cmezzavilla@virgo-llc.com
Zippy Shell / 1-800-PACK-RAT
Sarah Saulnier
ssaulnier@1800packrat.com
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. 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.
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. We believe the overall financing structure is well suited for the company as we enter our next phase of growth."
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."
More on The PennZone
- Northeast Airlines Launches New Asset Management Group
- AI Visibility Labs LLC - Dallas Texas - July 16 2026
- NextBoat's AI-Powered Marine Marketplace Gains Momentum as Record Growth Signals an Inflection Point for Investors (N Y S E American: NXB)
- ET&T Adds Senior Technical Voice Engineer to Strengthen Local Team
- Stepping Off the Grid: Savista Retreat Announces New Experiential Packages in Jaipur for Travellers
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."
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. The company provides an alternative to traditional temporary storage and moving options by delivering containers that are dropped off directly at a customer's location, filled with their belongings on their schedule and then stored at a drop-off site and/or at a company location, or moved to the destination for unloading by the consumer. Zippy Shell has seen steady growth in demand for its services, particularly long-distance moves and local storage, since its combination with 1-800-PACK-RAT in 2018. 1-800-PACK-RAT was founded in 2002 in North Carolina and has seen impressive growth throughout the years in both residential and commercial markets.
ABOUT VIRGO
Founded in 2009, Virgo is a private investment firm based in the San Francisco Bay Area that has an established track record of building and transforming businesses. Virgo seeks to grow differentiated business models into profitable, industry leading companies. Virgo's two distinct strategies focus on creating, building and scaling credit/asset-based businesses, and growth equity investments in Founder-led or Family-owned companies where the Firm executes transformative growth. The Firm has raised over $1.8 billion and completed 61 investments to date. For more information, please visit www.virgo-llc.com.
More on The PennZone
- Where Is Your Faith The Movie and Sountrack
- Bynn Intelligence Ranks #1 in NIST Child Online Safety Evaluation for Ages 13–16
- Rev-O-Box™ Launches Reversible Shipping Box That Instantly Becomes a Premium Gift Box
- Las Vegas Estate Firm Ghandi Deeter Blackham Offers Insight on Tony Hsieh's Contested $500 Million Will
- CCHR: Congressional Hearing Revives Lessons from MKULTRA Era – Why Past Psychiatric Human Rights Abuses Demand Vigilance Today
ABOUT ZIPPY SHELL
Zippy Shell was founded in Australia by Gareth Taylor in 2007 and launched in the United States in 2009. They merged with 1-800-PACK-RAT in 2018, and their moving and storage solutions combine the benefits of traditional moving services with the security and convenience of containerized solutions. Their innovative equipment design and flexible service options are delivering on their commitment to make moving and storage simple for both residential and commercial customers. They were recently recognized as one of the fastest growing companies by Inc 5000. To learn more about their services, which include local and long-distance moving, mobile storage, on-site storage, and loading/unloading and packing referral services, visit https://www.zippyshell.com/ or https://www.1800packrat.com.
Media Contacts
Virgo Investment Group
Chris Mezzavilla
cmezzavilla@virgo-llc.com
Zippy Shell / 1-800-PACK-RAT
Sarah Saulnier
ssaulnier@1800packrat.com
Source: Zippy Shell Incorporated
Filed Under: Business
0 Comments
Latest on The PennZone
- LawProactive Launches SB 37-Compliant Attorney Marketing Software With Exclusive City Territories Across California
- Cogs and Marvel expands EMEA leadership team for next phase of growth
- Beat the Philly Heat: Mid-July AC Boost
- Dave Freer's "Storm-Dragon" Wins First-Ever Prometheus Special Award For Young Adult Fiction
- T. Jones Group Celebrates Two Wins and Multiple Project Nominations at the 2026 HAVAN Awards
- Studica Robotics Supports Robotics Training Camp for WorldSkills Shanghai 2026
- Lineus Medical Renews Agreement with Vizient, Delivering Enhanced Value for Vizient Members
- Pittsburgh Divorce Attorney Candice L. Komar Elected Chair of PBA Family Law Section
- Grace Montessori School Receives $30,000 from Payne Foundation and $12,000 from Trexler Trust to Sup
- Qscription Technologies Appoints Radiology Industry Veteran Elliot Silverman to Advisory Board
- Search Is Broken. Curated Discovery Is the Future
- 20 Ways to Save Money Running a Van
- How Fortress Law Group Turned a DUI Arrest in Ohio Into a Full Acquittal at Trial
- Breaking the Silence: Tour Sparks National Conversation on Men's Mental Health and Domestic Abuse
- Mr. Hospital Bed Helps Home Care Buyers Find the Right Hospital Bed
- New School Announces Student Enrollment
- Able Rooter Expands Services to Offer Premium Water Heater Installation Across St. Louis
- Director Sean McNamara Reunites with Award-Winning Cinematographer Shawn Seifert for Upcoming Feature Home
- J. Kenton Pierce Wins Prometheus Award for Best Novel
- Ezra Wohlgelernter Named as a 2026 Philadelphia Power Broker by City & State PA