Zippy Shell Announces $25 Million Strategic Investment from Virgo Investment Group
June 04, 2015 // Franchising.com // Zippy Shell Incorporated, the Washington, DC-based, self-storage and moving company led by CEO, Rick Del Sontro and Founder/President Gareth Taylor, is proud to announce a $25 million growth capital investment from private investment firm Virgo Investment Group LLC ("Virgo").
The investment capital will help to accelerate the overall growth of the business in support of strategic acquisitions, the addition of new markets, and national brand development. It will also allow Zippy Shell to strengthen its moving platform and enhance operating systems for its franchisees.
"We are very excited to have Virgo as a partner in the business," says Rick Del Sontro, CEO of Zippy Shell Incorporated. "We couldn't think of a better fit for us and the future of the company. It was clear from our initial meeting with Mack McNair and the Virgo team that we held a shared vision for Zippy Shell. The Virgo team has been great to work with and has already provided significant strategic relationships to move our brand and business to the next level. This is truly a great day for our franchisees and for the company overall."
Zippy Shell is the fastest growing storage and moving franchise business in the U.S. The service stands apart from its competitors by providing an unprecedented seamless solution for moving and storage needs. Zippy Shell manages the delivery and return storage service for each customer eliminating the added stress of scheduling a moving company, renting your own truck or bringing items to a storage facility.
"Without a doubt the Virgo team has a deep understanding of our industry and recognizes that Zippy Shell is poised to transform it," says Gareth Taylor, Founder and President of Zippy Shell Incorporated. "No other capital provider can bring the business intellect, deep-seeded strategic relationships and industry knowledge that Virgo demonstrates with their investments. This partnership will allow us to significantly accelerate our growth and achieve our vision of being a recognized leader in the storage and moving market."
According to Mack McNair, a Founding Partner at Virgo who will be joining the Zippy Shell Board as its Chairman, "This is a perfect opportunity for us to provide growth capital to a business and professional team that has already proven their ability to succeed. We have significant prior experience in the portable moving and storage industry and I can say, without hesitation, that Zippy Shell is a stronger, more customer-friendly business model." Continued McNair, "With Virgo's financial and strategic support and the strength of its current managerial leadership in place, we believe Zippy Shell will disrupt the industry and provide an excellent opportunity for rapid business acceleration."
Virgo's investment comes at a critical time for Zippy Shell, allowing it to engage a greater national and regional consumer audience during its busiest moving and storage season. Following Virgo's strategic growth investment capital, Zippy Shell looks forward to significantly increasing both its revenue and profitability over the coming year.
About Virgo Investment Group
Virgo is an opportunistic, value investor. Virgo invests in market dislocations and areas of corporate change targeting both less efficient market segments and identified themes (or "market seams") in the firm's core industries. A theme-based approach to idea generation, coupled with proactive sourcing, a flexible mandate and creative transaction structuring skills, allows the firm to create differentiated opportunities and target optimal risk-adjusted returns across market investment cycles. Virgo is an actively engaged investor that seeks to contribute ideas and human capital to the harvesting of value post-investment and has a successful history of partnering with founder entrepreneurs and management teams, like the team at Millennium Entertainment, to support their growth initiatives. Founded in 2009, Virgo has invested nearly $600 million, completing 34 investments to date. For more information, please visit http://www.virgo-llc.com.
About Zippy Shell
Zippy Shell Incorporated is a national provider of portable storage and moving solutions. Through a network of franchise locations and licensed partners Zippy Shell provides a complete suite of services to the customer ranging from self-pack storage through full service moving. Headquartered in Washington, D.C., Zippy Shell has 56 independently operated, corporately operated or jointly operated facilities in 106 markets. Zippy Shell® is an exclusively licensed trademark of Zippy Shell Incorporated. For more information, visit the Zippy Shell website at www.zippyshell.com.
SOURCE Zippy Shell