Additionally, other senior operating executives of 1-800-PACK-RAT will join the combined company in their current positions with no change in responsibilities. Kuhns and the company's Board of Directors. Beginning in 2019, he will assume the role of Advisor and Chief Strategy Officer, working directly with Mr.
Poirier will continue to serve as CEO of 1-800-PACK-RAT. Upon consummation of the transaction, Mark Kuhns Chief Executive Officer of Zippy Shell, will assume the position of Chief Executive Officer of the combined company. "We feel this investment creates multiple growth opportunities and we hope to see compelling financial benefits going forward." Both companies have strong shared values rooted in operational excellence and customer service," said Mack McNair, Founding Partner of Virgo. "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. 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," said Robert Poirier, President and Chief Executive Officer of 1-800-PACK-RAT. "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. 1-800-PACK-RAT has a network of 71 warehouse facilities, reaching a total addressable domestic market of 240 million consumers.
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Both companies will continue to operate as separate and distinct brands serving their well-defined and diversified customer bases.įounded in 2002, 1-800-PACK-RAT provides portable moving and storage solutions and comprehensive logistics services to its nationwide base of residential and commercial customers. Virgo will fund the transaction with a combination of new credit facilities and a significant new growth capital investment. SAN FRANCISCO, J/PRNewswire/ - Virgo Investment Group ("Virgo"), a middle market private equity firm, today announced that its portfolio company Zippy Shell Incorporated ("Zippy Shell"), one of the fastest growing providers of portable moving and storage solutions in the U.S., has merged with a leading provider of portable moving, portable storage and logistics solutions headquartered in Wake Forest, NC.
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