July 21, 2017 5:28 PM ET

Trading Companies and Distributors

Company Overview of Pac-Van, Inc.

Company Overview

Pac-Van, Inc. sells and rents storage containers and office spaces. Its storage containers include storage solutions, and modified and custom shipping containers. The company also provides office containers, such as modified and custom shipping containers, and portable office containers. In addition, it offers mobile office trailers, such as trailers for special events, and construction trailers; modular buildings; and liquid storage tanks, including bulk liquid storage tanks. The company was founded in 1993 and is based in Indianapolis, Indiana with additional offices in the United States and Canada. As of October 1, 2008, Pac-Van, Inc. operates as a subsidiary of GFN North America Corp.

9155 Harrison Park Court - NEW

Indianapolis, IN 46216

United States

Founded in 1993

Phone:

317-489-5771

Fax:

317-489-9971

Key Executives for Pac-Van, Inc.

Chief Executive Officer and President
Age: 53
Chief Financial Officer
Regional Vice President
Regional Vice President of East Region
Vice President of Products & Services
Compensation as of Fiscal Year 2017.

Pac-Van, Inc. Key Developments

GFN Realty Company, LLC, Lone Star Tank Rental Inc., Pac-Van, Inc. and Southern Frac, LLC Enter into Certain Increase and Joinder Agreement

On June 30, 2017, Wells Fargo Bank, National Association (‘Wells Fargo’), Associated Bank, N.A. (‘Associated’), East West Bank (‘East West’), CIT Bank, N.A. (‘CIT’), the Private Bank and Trust Company (the ‘Private Bank’), Key Bank, National Association (‘Key Bank’), Bank Hapoalim, N.A. (‘BHI’) and GACP I, L.P. (‘Great American’ and collectively with Wells Fargo, Associated, East West, CIT, Private Bank, Key Bank and BHI, the ‘Lenders’), GFN Realty Company, LLC, (‘GFNRC’), Lone Star Tank Rental Inc. (‘Lone Star’), Pac-Van, Inc. (‘Pac-Van’) and Southern Frac, LLC (‘Southern Frac’ and collectively with GFNRC, Lone Star and Pac-Van, the ‘Borrowers’) entered into that certain increase and joinder agreement. The agreement, among other things, adds Associated Bank, N.A. as a lender and increases by $7 million from $210 million to $217 million the maximum revolver amount under that certain amended and restated credit agreement dated April 7, 2014.

GFN Realty Company, LLC, Lone Star Tank Rental Inc., Pac-Van, Inc. and Southern Frac, LLC Enter into Certain Amendment No. 6 to Amended and Restated Credit Agreement

On March 24, 2017, Wells Fargo Bank, National Association ("Wells Fargo"), East West Bank ("East West"), CIT Bank, N.A. (CIT), the Private Bank and Trust Company (the "Private Bank"), Key Bank, National Association (Key Bank), Bank Hapoalim, N.A. (BHI) and GACP I, L.P. (Great American and collectively with Wells Fargo, East West, CIT, Private Bank, Key Bank and BHI, the "Lenders"), GFNRealty Company,LLC, (GFNRC), Lone Star Tank Rental Inc. (Lone Star), Pac-Van, Inc. (Pac-Van), Southern Frac,LLC (Southern Frac and collectively with GFNRC, Lone Star and Pac-Van, the Borrowers) entered into that certain Amendment No. 6 to Amended and Restated Credit Agreement. The Amendment amended the terms and conditions of the Amended and Restated Credit Agreement dated April 7, 2014 relating to the senior credit facility of GFNRC, Lone Star, Pac-Van and Southern Frac (collectively, the Borrowers). The Amendment amended certain terms of the Credit Agreement, including, without limitation, adjusting the maximum amount that may be borrowed by the Borrowers to $230,000,000, extending the maturity date until March 24, 2022, assuming the company’s 8.125% Senior Unsecured Notes due July 31, 2021 are extended at least 90 days past this scheduled maturity date, otherwise the Credit Facility would mature on March 24, 2021, created a First In Last Out term loan (FILO Term Loan) within the Credit Facility in the amount of $20,000,000, and inclusive in the $230,000,000 total Credit Facility and includes a provision which allows the Borrowers to increase the maximum amount that may be borrowed under the Credit Facility by $7,000,000 subject to certain conditions. Repayment of all borrowings under the Credit Agreement, as amended by the Amendment, including the FILO Term Loan, is secured by a first priority security interest on substantially all of the rental fleet, inventory and assets of the Credit Parties. All borrowings under the Credit Agreement, except the FILO Term Loan, bear interest at LIBOR plus a margin of 2.5% to 3.0% per annum or a base rate plus a margin of 1.00% to 1.50% per annum. The FILO Term Loan will bear interest at rate of LIBOR plus a margin of 11.0% per annum. The FILO Term Loan has the same maturity date and contains a first priority lien on the same collateral used in the Credit Facility, however on a last out basis, after all of the outstanding obligations to the primary lenders in the Facility have been satisfied.

General Finance Corporation Appoints Theodore Mourouzis as President and Chief Executive Officer of Pac-Van, Inc

General Finance Corporation announced that Theodore Mourouzis has been appointed as President and Chief Executive Officer of Pac-Van, Inc. Mr. Mourouzis is responsible for Pac-Van’s North America leasing operations and reports directly to Jody Miller, President of General Finance Corporation. Mr. Mourouzis spent two decades in the equipment rental industry and has been with Pac-Van over twenty years, serving previously as its Vice President of Finance, Chief Operating Officer and President. Prior to joining Pac-Van, he worked in management for a 3M joint venture and as a consultant for Deloitte & Touche.

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