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.
Led by Chuck Gordon, CEO, Storable offers an end-to-end integrated suite of technology solutions to empower self-storage operators to enhance efficiency and optimize occupancy. Its offering includes a software platform with embedded payment and insurance solutions and an online marketplace for self-storage operators. The Storable family of companies includes SiteLink, storEDGE, Easy Storage Solutions, SpareFoot, Select Merchant Solutions, Storsmart, and Bader Insurance. The company has approximately 440 employees.