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- Zippy Shell
Zippy Shell Valuation, Funding & Investors
Zippy Shell is valued at $70M as of June 2015.
Last Zippy Shell valuation
$70M
Undisclosed stage · Jun 2015
Last Zippy Shell funding round
$180M
Undisclosed stage · May 2024
Cumulative funding Zippy Shell raised
$225M
across 3 funding rounds
Key investors in Zippy Shell
Carlyle Group
Virgo Investment Group
About Zippy Shell
Zippy Shell is a containerized moving and storage company, founded in Australia in 2007 and operating in the United States since 2010, now headquartered in Wake Forest, North Carolina. It provides portable moving and storage solutions that combine traditional moving services with secure, containerized storage for individuals and businesses. Zippy Shell merged with 1-800-PACK-RAT in 2018, expanding its network of warehouse facilities serving residential and commercial customers nationwide.
Founded
2010
HQ
Website
Status
Privately held
Customer focus
B2C & B2B
Revenue model
Services
Valuation
$70M (Jun 2015)
Sectors
Zippy Shell Valuation
Zippy Shell is currently valued at $70M, based on its undisclosed-stage round in June 2015.
The $25M round was led by Virgo Investment Group.
Zippy Shell valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jun 2015 | Undisclosed stage | $70M |
Zippy Shell Funding History
Zippy Shell has raised a total of $225M across 3 funding rounds.
Zippy Shell's first fundraising round was a $25M undisclosed-stage round in June 2015. The most recent completed round was a $180M undisclosed-stage round in May 2024.
Zippy Shell funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2024 | Undisclosed stage | Carlyle Group (lead) | $180M | - | Zippy Shell Incorporated, a leading U.S. containerized moving and storage company founded in Australia in 2007 and operating in the U.S. since 2010, completed a $525 million refinancing deal on May 14, 2024. Carlyle Group invested $180 million in preferred equity, building on their partnership since 2020 when they provided $20 million in equity and a $75 million second lien term loan. JPMorgan Chase led a $345 million first lien debt facility to refinance existing debt and support strategic growth initiatives. Zippy Shell's CEO Mark Kuhns highlighted Carlyle's role in scaling the business and reaching new customers, expressing enthusiasm for the continued partnership and optimal debt structure with JPMorgan. Jesse Watson, founder of Virgo Investment Group and Zippy Shell Chairman, noted the company's outperformance and Carlyle's support in transforming it into an industry leader. Carlyle's managing director Matt Settle, who joined the board, praised Zippy Shell's management and market leadership in containerized moving and storage. The transaction follows Zippy Shell's 2018 merger with 1-800-PACK-RAT. |
| Nov 2020 | Undisclosed stage | Carlyle Group (lead) | $20M | - | Zippy Shell is a Wake Forest, N.C.-based containerized moving and storage company, originally founded in Australia in 2007 and operating in the U.S. since 2010; it merged with 1-800-PACK-RAT in 2018. In 2020, Carlyle invested $20 million in equity alongside a $75 million second lien term loan, marking the start of their partnership. This initial investment supported the company's growth in the moving and storage sector. The 2020 deal built the foundation for Carlyle's ongoing involvement, as evidenced by their 2024 follow-on investment of $180 million in preferred equity, paired with a $345 million first lien debt facility from JPMorgan Chase, totaling a $525 million refinancing. The later transaction refinanced existing debt and funded strategic growth initiatives, with Carlyle executive Matt Settle joining the board and praising Zippy Shell's market leadership and share gains. CEO Mark Kuhns highlighted Carlyle's role in scaling the business and reaching new customers. Chairman Jesse Watson of Virgo Investment Group noted the company's outperformance and transformation into an industry leader under Carlyle's support. |
| Jun 2015 | Undisclosed stage | Virgo Investment Group (lead) | $25M | $70M | Zippy Shell Incorporated is a containerized moving and self-storage company founded in Australia by Gareth Taylor in 2007 and launched in the United States in 2009. The company provides portable moving and storage solutions combining traditional moving services with the security and convenience of containerized offerings, serving both individuals and businesses. In June 2015, Zippy Shell completed a $25 million growth capital investment from Virgo Investment Group LLC, a private investment firm based in the San Francisco Bay Area. This investment valued the company at over $70 million post-money and was intended to accelerate overall business growth, support strategic acquisitions, enable entry into new markets, and strengthen the company's moving platform and operating systems for franchisees. Virgo was founded in 2009 and by the time of this investment had completed 34 investments with nearly $600 million deployed. Following the Virgo investment, Zippy Shell continued to grow and later merged with 1-800-PACK-RAT in 2018, eventually securing additional financing including a $160 million package from The Carlyle Group and PNC Bank, and a $525 million refinancing in May 2024 with Carlyle contributing $180 million in preferred equity and JPMorgan Chase providing a $345 million first lien debt facility. |
Who has invested in Zippy Shell?
2 investors have backed Zippy Shell across its funding rounds, including Carlyle Group and Virgo Investment Group.
Lead investors include Carlyle Group and Virgo Investment Group.
Zippy Shell Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 2 Zippy Shell investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Zippy Shell
Zippy Shell has acquired 1 company to date.
Last acquisition by Zippy Shell was on June 6th 2018. Zippy Shell acquired 1-800-PACK-RAT for undisclosed valuation.
Latest Acquisitions by Zippy Shell
| Description | 1-800-PACK-RAT is a provider of portable storage containers for moving and on-site storage, delivering steel units directly to homes. Fort Mill, South Carolina-headquartered since 2002, it operates 75 depots nationwide with climate-controlled warehouses, serving relocations via partnerships with U-Haul and Penske trucks. |
| HQ Country | |
| HQ City | - |
| Deal Date | 6 Jun 2018 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Zippy Shell acquisitions and their M&A valuation multiples. Start Free Trial | |
Zippy Shell Competitors
Zippy Shell competitors include listed companies like Ulma Construccion, Air T and Freetrailer Group, and private ones like Reliance International Leasing, Splend and MOOV Leasing.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $65M | $20M | $72M | - | ||
| Private | - | - | $62M | - | ||
| Publicly listed | $327M | $110M | $80M | - | ||
| Private | $23M | - | $58M | 2.5x | ||
| Private | $12M | - | $57M | 4.8x | ||
| Publicly listed | $20M | $8M | $90M | - |
Zippy Shell Public Comps
Zippy Shell is still privately-owned, but its public comps include Ulma Construccion, Air T, DonkeyRepublic, Fenie Brossette, Freetrailer Group, Alquiber Quality, Speedy Hire, Sicily By Car, Borlease and GenFlat Holdings.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $65M | $20M | 1.2x | - | 3.7x | - | |||
| $327M | $110M | 1.1x | - | 3.1x | - | |||
| $26M | $3M | 1.7x | 1.6x | 17.2x | 7.6x | |||
| - | - | - | - | - | - | |||
| $20M | $8M | 4.6x | - | 11.9x | - | |||
| $189M | $110M | 1.9x | 1.9x | 3.3x | 3.3x | |||
| $559M | $84M | 0.8x | 0.8x | 5.5x | 3.6x | |||
| $175M | $29M | 0.8x | 0.7x | 5.1x | 3.4x | |||
This data is available for Pro users. Sign up to see all Zippy Shell competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Zippy Shell
| When was Zippy Shell founded? | Zippy Shell was founded in 2010. |
| Where is Zippy Shell headquartered? | Zippy Shell is headquartered in Raleigh, NC, United States. |
| Is Zippy Shell publicly listed? | No, Zippy Shell is a private, VC-backed company. |
| What is Zippy Shell's valuation? | Zippy Shell was last valued at $70M in its undisclosed-stage round in June 2015. |
| How much funding has Zippy Shell raised? | Zippy Shell has raised $225M across 3 funding rounds. |
| What was Zippy Shell's last funding round? | Zippy Shell's last funding round was a $180M undisclosed-stage round in May 2024, led by Carlyle Group. |
| Who are Zippy Shell's investors? | Zippy Shell's investors include Carlyle Group and Virgo Investment Group. |
| Which companies are comparable to Zippy Shell? | Companies comparable to Zippy Shell include Ulma Construccion, Reliance International Leasing, Air T, Splend, MOOV Leasing and Freetrailer Group. |
| How many companies has Zippy Shell acquired? | Zippy Shell has acquired 1 company, including 1-800-PACK-RAT. |
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