Dec 21, 2020
Sweden-based investment firm EQT AB has acquired a majority stake in Storable, an Austin-Texas-based supplier of varied products and services to the self-storage industry. Expected to close by June 30, the deal will enable Storable to leverage EQT’s “technology, business-optimization and digital-transformation expertise,” with an eye toward international growth, according to a press release. Cove Hill Partners, Storable’s private equity owner, will retain a minority stake in the company, which is valued at about $2 billion, according to Bloomberg.
Storable is comprised of Easy Storage Solutions, SiteLink and storEDGE, providers of facility-management software; SpareFoot, an online marketplace for self-storage units; SBOA Merchant Services, Select Merchant Solutions and SiteLink Merchant Services, providers of payment processing; and Bader and Storsmart, providers of self-storage tenant insurance. storEDGE also offers website-development and digital-marketing se
Storable, an Austin, Texas-based software and technology provider to the self-storage industry, received a majority investment from EQT Private Equity.
The amount of the deal was not disclosed. Under the terms of the agreement Cove Hill Partners and management will retain a minority stake in the Company.
The investment will support Storable’s continued growth and innovation of its offerings. The company will benefit from EQT’s track record of advancing technology companies and vast expertise in accelerating digital transformation, leveraging its in-house resources and its global advisory network.
The transaction is expected to close in Q2 2021, subject to customary conditions and approvals.
EQT Private Equity makes a majority investment in Storable, the leading software & technology provider to the self-storage industry
- EQT Private Equity will support Storable s continued growth and innovation of its best-in-class product offerings
- Storable will benefit from EQT s demonstrated track record of advancing industry leading technology companies and vast expertise in accelerating digital transformation, leveraging its in-house resources and global EQT advisory network
STOCKHOLM, Dec. 16, 2020 /PRNewswire/ EQT is pleased to announce that EQT Private Equity has made a majority investment in Storable ( the Company ), a leading provider of software and technology to the self-storage industry. Under the terms of the agreement Cove Hill Partners and management will retain a minority stake in the Company.
Storable Welcomes New Investment Partner: EQT
EQT makes major investment in Storable to become the lead investor alongside existing investors, Cove Hill Partners and the Storable management team
Austin, Texas (Newsfile Corp. - December 16, 2020) - Storable, the self-storage industry s leading technology provider, today announced that global investment organization EQT has joined Cove Hill Partners and the Storable management team as an investment partner in the Storable business. The investment made by EQT s Private Equity division, moves them into the lead investor position where they will support Storable s continued growth and innovation.
EQT brings highly-sophisticated technology, business optimization, and digital transformation expertise all at a global level which will be critical as Storable moves into its next stage of growth. Through this new partnership, Storable will tap into EQT s in-house resources, digital expertise and vast global advisory network as the S