Zippy Shell and 1-800-PACK-RAT Merge
1-800-PACK-RAT is a leader in portable moving, storage, and logistics based in North Carolina. Established in 2002, it has more than 70 warehouse facilities and a domestic market of 240 million. Zippy Shell has grown to 47 branches since it was founded in 2009.
“1-800-PACK-RAT and Zippy Shell are highly complementary businesses with diversified customer bases, high-quality management teams, and services that cover both residential and non-residential markets. Both companies have strong shared values rooted in operational excellence and customer service,” Virgo Founding Partner Mack McNair. “We feel this investment creates multiple growth opportunities and we hope to see compelling financial benefits going forward.”
After the merger, both companies will continue to operate as separate and distinct brands serving their well-defined and diversified customer bases. In 2019, Zippy Shell CEO Mark Kuhns will assume the position of CEO of the combined company, with 1-800-PACK-RAT CEO and President Robert Poirier will continuing as CEO of 1-800-PACK-RAT. Beginning in 2019, Poirier will move to the position of advisor and chief strategy officer, working directly with Kuhns and the company’s board of directors. Additionally, other senior operating executives of 1-800-PACK-RAT will join the combined company in their current positions with no change in responsibilities.
“This investment by Virgo is perfectly suited to meet our needs as we continue to invest in container assets, geographic expansion, and customer service initiatives.” Poirier explained. “The timing could not be better and by bringing together our collective capabilities and skills we expect to accelerate our growth while maintaining a commitment to exceptional customer service.”
Virgo will fund the transaction with a combination of new credit facilities and a significant new growth capital investment. “One of the key reasons 1-800-PACK-RAT selected Zippy Shell and Virgo as its partners, is to preserve and combine top talent from 1-800-PACK-RAT and Zippy Shell into the combined organization, which will ensure long-term, successful growth founded on our collective commitment to operational excellence and strong customer service” said Kuhns.
Zippy Shell President and Founder Gareth Taylor, “Zippy Shell’s long distance moving program has significantly contributed to our accelerating growth in recent years and we are excited to be working with 1-800-PACK-RAT to expand the number of locations where we can offer service.”