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Tuesday, September 16, 2014

Private equity firm eyes sale of storage company PODS-sources, (NYSE: BCS)

Eagle Merchant Partners, a private equity firm, is exploring a sale of PODS Enterprises Inc that could value the U.S. moving and storage company at about $1 billion, including debt, according to people familiar with the matter.Atlanta-based Eagle Merchant, whose team came from bankrupt Bahraini investment firm Arcapita Bank BSCC, has hired investment bank Barclays Plc to assist with the PODS Enterprises sale process, one source said.The sources asked not to be identified because the discussions were private. Spokespeople for PODS Enterprises and Eagle Merchant had no immediate comment. Barclays declined to comment.Founded in 1998, PODS Enterprises delivers containers to customers who use them for moving or storing belongings. It operates in 48 U.S. states, Canada, Australia and Britain through its company-owned and franchise network.

Barclays PLC (Barclays) is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. Shares of BCS fell by 0.63% or $-0.095/share to $15.00. In the past year, the shares have traded as low as $13.96 and as high as $19.59. On average, 3037110 shares of BCS exchange hands on a given day and today's volume is recorded at 1806916.