An overview of our sell-side M&A services
StorageAuctions.com Acquired by Storable
By creating the only platform to offer an end-to-end corporate delinquency solution in-house, this strategic partnership delivers a truly comprehensive solution for self-storage operations.
“I have started over a dozen companies and exited many of them throughout my career. Selling my software business was the most complex transaction I have experienced, and I’m grateful I had SEG by my side to help guide me through it. SEG’s experience in our space was pivotal, and their expertise in the general space and minute details of M&A transactions provided a constant source of reassurance throughout the process. SEG’s stellar industry reputation and relationships, ability to identify and mitigate risks, and hands on approach led to a highly successful outcome. They have an exceptional team that is dedicated to serving their client in every aspect of a transaction all the way through to the deal closing. Thanks, SEG!”
- Lonnie Bickford, Founder & President, StorageAuctions.com
An EQT Company
SEG served as exclusive advisor to StorageAuctions.com
Client Description
The company
StorageAuctions.com is a leading online platform specializing in storage unit auctions.
The solution
Established by a veteran in the self-storage sector, the platform caters to a broad audience by simplifying the auction process and expanding the reach of auction events, thereby increasing unit sales potential.
Headquarters
Baton Rouge, LA
Buyer Description
The company
Storable is the leading provider of integrated technology solutions, powering the self-storage, marine and RV/Campground industries. The company offers a suite of products that includes management software, marketplace, websites, access control, insurance, payments, and more.
Backed By
EQT
Headquarters
Austin, TX
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PRESS RELEASE OVERVIEW
SEG Client, StorageAuctions.com, Acquired by Storable
June 11, 2024 – Storable, the leader in integrated technology solutions for the self-storage industry, is proud to announce its acquisition of StorageAuctions.com, the premier online platform for self-storage auctions. This strategic partnership marks a significant milestone, creating the only platform to offer an end-to-end corporate delinquency solution in-house. Software Equity Group (SEG) served as the exclusive advisor to StorageAuctions.com.
“Bringing StorageAuctions.com into the Storable family solidifies us as a truly comprehensive technology platform that spans the entire self-storage lifecycle,” stated Chuck Gordon, CEO of Storable. “Most operators find auctions challenging and time-consuming. We can now simplify the auction process as part of our end-to-end offering, transforming it into a more efficient experience that removes friction and enhances operations..”
By integrating StorageAuctions.com’s robust online auction services, Storable will improve its existing offerings to include a dynamic auction module that addresses the often dreaded but necessary part of storage management—clearing delinquent units. This integration allows for smoother transitions and greater efficiency in vacating units, thereby optimizing the re-rental process and enhancing overall operational effectiveness.
“Becoming part of the Storable team is a huge step forward for us,” said Lonnie Bickford, Owner of StorageAuctions.com. “It allows us to expand our auction services and capabilities by tapping into Storable’s cutting-edge technology and their wide presence across the storage industry. This partnership is going to transform how storage auctions are run and will help self-storage operators get the highest possible returns while providing an improved experience for bidders and buyers”
The acquisition was finalized on June 4, 2024. StorageAuctions.com will operate as a division of Storable. Current customers of both companies can expect seamless continuation of all existing services and support.