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. By providing equity in addition to debt, they have demonstrated their confidence in our team and we look forward to working with Carlyle as we meet increasing needs for simple, convenient moving and storage solutions across the country.” Mark Kuhns, Zippy Shell’s Chief Executive Officer, said, “Carlyle’s ability to see the growth potential of our business showed that they are more than just a financial partner, they are a business partner whom we’re confident will help us successfully scale our business. Drawing on insights from our global investment platform, we were able to move quickly to identify and diligence the deal and provide a customized financing solution for the team.” Zippy Shell plans to use the funds for growth initiatives and strategic acquisitions.Īlex Popov, Carlyle’s Co-Head of Illiquid Credit Strategies and Head of Carlyle’s Credit Opportunities team, said, “Zippy Shell and its subsidiary 1-800-PACK-RAT are strongly positioned for expansion in the moving and storage industry and we are pleased to provide the capital it needs to grow its fleet, enter new markets and fund acquisitions. The financing package includes a $75 million second lien term loan and $20 million in preferred equity. (NASDAQ: CG) today announced that its Global Credit platform provided $95 million in transitional growth capital for Wake Forest, North Carolina-based Zippy Shell, one of the largest containerized moving and storage companies in the United States. Financing Package Includes $75 Million Second Lien Term Loan and $20 Million Preferred Equity
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