I noted in a previous blog post that the self storage industry has witnessed a number of significant changes in recent years. One of the more eyebrow raising consolidations in my industry unfolded over the past month as a private equity fund acquired two of the big actors on the self storage cyber stage.
The acquirer: Cove Hill Partners, a Boston-based private equity firm.
The acquired: Sparefoot, the leading lead aggregator in my industry, and SiteLink, the leading self storage management software provider.
The implications for my industry: Well, that’s what a lot of us are trying to figure out!
I attended a meeting in Atlanta this month with a few dozen of my private middle-market peers. We had the opportunity to hear from the founding partner of Cove Hill, Andrew Balson. And from the founder/presidents of both Sparefoot and Sitelink.