Carlyle Provides $180 Million in Transitional Capital to Zippy Shell | Carlyle
Summary
This investment, alongside a new first lien debt facility led by JP Morgan, will provide the company with capital to refinance its existing debt and fund strategic growth initiatives, including continued network and fleet expansion, as well as strategic real estate acquisitions.Zippy Shell provides an alternative to traditional temporary storage and moving options by delivering containers that are dropped off directly at a customers 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. Were excited to partner with Carlyle once again given their reliability and creativity in helping Zippy Shell achieve its goals.Matt Settle, Managing Director at Carlyle, said, Since the start of our initial partnership with Zippy Shell in 2020, we have been continually impressed with the management team and the companys demonstrated ability to grow. Zippy Shell is a market leader in the containerized moving and storage space and were confident in their ability to continue taking share. Were excited to continue working with Mark and the entire leadership team to support the Zippy team in their next phase of growth with this investment.As part of the transaction, Matt Settle, Managing Director at Carlyle, will join Zippy Shells Board of Directors.Carlyles Global Credit business manages $186 billion in assets as of March 31, 2024. Zippy Shell is made up of a strong team and board members who have established themselves as leaders in the moving and storage industries.