EQT Is in Talks For Stake in Storable at $2 Billion Value
- Company is a U.S. software maker for self-storage industry
- Transaction on Wednesday confirmed Bloomberg News report
Storable operates a consumer-facing portal called SpareFoot where people can browse for the best deals on self-storage near them.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
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.
An announcement Wednesday confirmed an earlier Bloomberg report. 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.