“Storable is consistent with some of the software investments we’ve made in how it has a growing-end market that’s accelerating in terms of digital transformation,” Kumar said in an interview. "Technology is very fragmented in the self storage industry, creating a challenge for owners to piece together different tools to manage the front and back end of their business," said Chuck Gordon, Storable CEO and co-founder of SpareFoot. Gordon, who co-founded SpareFoot while he was in college in 2008, said some of the new investment will go toward product and engineering. Storable's suite of products include Sitelink Software, storEDGE Software, SpareFoot, SiteLink Merchant Services and Select Merchant Solutions among others. |June 24, 2019 |2 min read. EQT is a purpose-driven global investment organization with more than EUR 75 billion in raised capital and over EUR 46 billion in assets under management across 16 active funds. Cove Hill Partners och dess ledning behåller en minoritetsandel. Under the terms of the agreement Cove Hill Partners and management will retain a minority stake in the Company. Advanced Search. Cove Hill simultaneously acquired a majority stake in leading self-storage management software provider SiteLink and put the companies together under a single holding company led by Gordon. Cove Hill is a long-term oriented private equity firm that partners with outstanding management teams to build market-leading consumer and technology companies. Storable har sitt huvudkontor i Austin, Texas och har cirka 440 anställda. For More on Self-Storage: Elliott Calls for Review of Public Storage’s Strategy. Despite the growth, the industry remains largely owned and operated by small business owners rather than large, public companies. As a technology-first company, Storable provides a suite of solutions designed to empower self storage operators to enhance efficiency and optimize occupancy. Boston-headquartered Cove Hill Partners LP, which in 2018 acquired a majority stake in the Austin company, will retain a minority stake in Storable. Services available through the Storable suite include: software, website services, merchant services, aggregated search and training. The people asked not to be identified speaking about the value of the deal since financial terms weren’t disclosed. Have a confidential tip for our reporters? On December 16, 2020, private equity firm EQT Holdings AB acquired information technology company Storable, Inc. from Cove Hill Partners Acquisition Highlights. This is EQT Holdings AB’s 19th transaction in the Information Technology sector. Evercore Inc. advised EQT and William Blair & Co. advised Storable’s majority owner Cove Hill Partners. About News Wire. Contact editor@sparefoot.com for details. Under the terms of the agreement Cove Hill Partners and management will retain a minority stake in the Company. More info: www.storable.com. Storable is backed by EQT and Cove Hill Partners and led by Co-Founder & CEO, Chuck Gordon. 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. Jana is a marketing communications specialist living in Kansas City. Storable is backed by Cove Hill Partners and headquartered in Austin, TX, with additional offices in Kansas City, KS, Raleigh, NC, and York, PA. Advertisement. AUSTIN, Texas, June 24, 2019 -- Leading self storage technology providers, SpareFoot, SiteLink and storEDGE, announced today their unification under the brand name Storable. Updates with confirmation from press release starting in first paragraph. Storable's suite of products include Sitelink Software, storEDGE Software, SpareFoot, SiteLink Merchant Services and Select Merchant Solutions among others. Our Products. EQT values Storable at around $2 billion. An announcement Wednesday confirmed an earlier Bloomberg report. “Storable is consistent with some of the software investments we’ve made in how it has a growing-end market that’s accelerating in terms of digital transformation,” Kumar told the source. About Cove Hill Cove Hill Partners is a long-term oriented private equity firm focused on partnering with outstanding management teams to build market-leading consumer and technology companies. Stockholm-based EQT is making a U.S. push for software deals and has invested in companies in the space in the past few years including analytics company Innovyze and cloud-based, business-software maker Acumatica. Storable is backed by EQT and Cove Hill Partners and led by Co-Founder & CEO, Chuck Gordon. About Cove HillCove Hill Partners is a long-term oriented private equity firm focused on partnering with outstanding management teams to … The deal is expected to close in the second quarter of 2021. Storable's announcement comes after an extended period of growth for the $37 billion self storage industry. We have been pleased with the tech support, increased integration, and overall streamlining we have seen as these three companies become one full-service provider," said McKenzie Harrington, Marketing Manager at Self-Storage Consulting Group, LLC. The pandemic has caused more people to move from cities, he said, which has increased some demand for self-storage. AUSTIN, Texas - December, 2020. The transaction was announced on December 16, 2020, and is expected to close in 2021. More info: www.storable.com. 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. Practices . According to the Self-Storage Almanac, 73% of self storage facilities are owned by local operators compared to the 18% owned by public companies. The new brand further integrates these great technologies and reflects Storable's mission to become the number one technology provider for the storage industry. The Firm was created in 2017 to invest the founders’ personal capital alongside that of a small group of like-minded families, endowments and charitable foundations. 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. Storable’s Chief Executive Officer Chuck Gordon said in an interview that Storable’s customers include publicly traded real-estate investment trusts. Storable (f.k.a. Cove Hill Partners is a long-term oriented private equity firm focused on partnering with outstanding management teams to build market-leading technology and consumer companies. EQT Private Equity gör en majoritetsinvestering i Storable, en mjukvaru- och teknikleverantören till självlagringsindustrin, med bas i USA. William Blair acted as exclusive financial advisor to Storable, Inc. (Storable), a portfolio company of Cove Hill Partners, in connection with a pending majority investment from EQT alongside existing investors, Cove Hill Partners and the Storable management team. Under the terms of the agreement Cove Hill Partners and management will retain a minority stake in the Company. Storable’s technology helps storage companies run their businesses and it also operates a consumer-facing portal called SpareFoot where people can browse for the best deals on self-storage near them. Storable is backed by EQT and Cove Hill Partners and led by Co-Founder & CEO, Chuck Gordon. Storable is backed by Cove Hill Partners and led by CEO, Chuck Gordon. EQT Private Equity har köpt en majoritetsandel i Storable, ett mjukvaruföretag med säte i Austin, Texas. Storable is backed by EQT and Cove Hill Partners and led by Co-Founder & CEO, Chuck Gordon. 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. More info: www.storable.com. Cove Hill Partners, Storable’s private equity owner, will retain a minority stake in the Austin, Texas-based company, which makes software used by self-storage companies. Swedish private equity firm EQT said that it has bought a majority stake in Storable, a US provider of software and technology to the self-storage industry. The number of households renting self storage units has climbed to an all time high with more than 11.8 million households leasing additional space. Storable CEO and Co-founder of SpareFoot, "Over the last year, we've been impressed with the combined efforts of the SpareFoot and SiteLink teams to seek out feedback from clients," said Alyssa Quill, CEO at Storage Asset Management. It acquired the open-source software developer in 2018 and has been building it up via acquisitions, including buying Rancher Labs this year. European private equity firm EQT AB announced it would buy a majority stake in Storable in a deal that people familiar with the matter said valued the U.S. software maker at roughly $2 billion, including debt. About Cove Hill Cove Hill Partners is a long-term oriented private equity firm focused on partnering with outstanding management teams to build market-leading consumer and technology companies. "SpareFoot, SiteLink and storEDGE coming together has been exponentially helpful to an operator like us that utilizes all three platforms every day. About EQT. With Storable, our breadth and depth of technology, innovation, industry experience, and committed user support have come together in an unrivaled suite of tools. "We've been asked for suggestions for ways the combined company can improve their products and services multiple times. Storable is backed by Cove Hill Partners and led by CEO, Chuck Gordon. Chuck Gordon SpareFoot, SiteLink and storEDGE) empowers self-storage operators to simplify operations by using a suite of technology solutions created to maximize business growth and manage day-to-day tasks. Cove Hill acquired a majority stake in SpareFoot in 2018, when the online marketplace acquired SiteLink. To learn more about Storable, visit www.storable.com. Storable. Cove Hill Partners, Storable’s private equity owner, is expected to keep a minority stake in the Austin, Texas-based company, which makes software used by self-storage companies, the people said. "With Storable, we're giving storage owners a suite of integrated products designed to streamline their day-to-day operations and maximize business growth." Cove Hill Partners and management will retain a minority stake in the company. Before it's here, it's on the Bloomberg Terminal. More info: www.storable.com About Cove Hill Cove Hill Partners is a long-term oriented private equity firm focused on partnering with outstanding management teams to … Arvindh Kumar, an EQT partner, was hired last year from Iconiq Capital to boost the U.S. technology effort. Jana Haecherl More info: www.storable.com. More info: www.storable.com. The deal provides a partial exit for Bain Capital spinout Cove Hill, which first invested in Storable's predecessor in 2018. Storable's suite of technology solutions allows both large and small businesses to have the industry's best tools at their fingertips. View All Practices. EQT and Storable could announce a deal as early as Wednesday, the people said, asking not to be identified because the matter is private. In August 2018 , Cove Hill backed the acquisition of software and website developer storEDGE, bringing them under its growing family of self-storage tech companies. Poised to Clear Astra Shot as Need for Vaccines Grows. About Cove Hill Transaktionen beräknas vara genomförd under andra kvartalet 2021. Storable is backed by EQT and Cove Hill Partners and led by Co-Founder & CEO, Chuck Gordon. Zack sits on the Boards of Storable, LiveAuctioneers and Kalkomey. EQT’s infrastructure fund has also made large U.S. investments in telecommunications, fiber and data centers. More info: www.storable.com. This is EQT Holdings AB’s 32nd transaction in the United States. We put the best technology products in self storage under one roof. Bloomberg News reported last month that EQT is speaking to advisers about a potential initial public offering of SUSE that could seek a valuation of nearly $6 billion. Company is a U.S. software maker for self-storage industry, Transaction on Wednesday confirmed Bloomberg News report. Storable helps you run your business better than you ever thought possible. Cove Hill Partners, Storable’s private equity owner, will retain a minority stake in the Austin, Texas-based company, which makes software used by self-storage companies. Jana Haecherl, Marketing Communications Specialist. Headquartered in Austin, Storable provides self storage operators with a comprehensive suite of easy-to-use, intuitive products that work seamlessly together to increase business efficiency and profitability. About EQT Ant Turning From Windfall to Nightmare for Global Investors, Alibaba Probe Stirs Global Worry on What’s Next for Chinese Tech, China Tells Ant to Return to Its Payment Roots, Places Curbs, Stocks Rally to Records as Investors Cheer Aid: Markets Wrap, U.K. Interested in submitting a press release to the News Wire? Analytics & Behavioral Science Consulting (R&G Insights Lab) Enligt villkoren i avtalet kommer Cove Hill Partners och ledningen att behålla en minoritetsandel i företaget. A graduate of South Dakota State University with a master's in mass communication, Jana enjoys bringing technology, web marketing and industry news and tips to self storage owners and managers. Storable's comprehensive suite of tools designed for operators, both large and small, helps them grow and operate their facilities efficiently through technology. More info: www.storable.com. 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