Simpson Thacher is advising EQT in connection with the majority investment by EQT Private Equity in Storable, Inc., the leading provider of software and technology to the self-storage industry. Under the terms of the merger agreement, Cove Hill Partners and management will retain a minority stake in Storable. EQT Private Equity will support Storable’s continued growth through investments in product innovation and commercial excellence, with a focus on sustainability. The transaction is expected to close in Q2 2021, subject to customary conditions and approvals.
Storable offers an end-to-end integrated suite of technology solutions to empower self-storage operators to enhance efficiency and optimize occupancy. Storable’s offering includes a market leading software platform with embedded payment and insurance solutions and the leading online marketplace for self-storage operators. Storable is headquartered in Austin, Texas and has approximately 440 employees.
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. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
The Simpson Thacher team includes Robert Langdon, Michael Holick, Fred De Albuquerque, Mark Myott, Fiona Gillan and William Perrone (M&A); David Rubinsky, Harry Hudesman and Garrick Ehlers (Executive Compensation and Employee Benefits); Eli Isak, Jennifer Hobbs and Robyn Cho (Credit); Jonathan Goldstein, Jacqueline Clinton and Zachary Fialkow (Tax); Genevieve Dorment and Kate Mirino (IP); Robert Lee and Alexander Hoffman (Funds); and Kelly Karapetyan and Sarah Pugh (Antitrust).