In March 2018, SpareFoot, an online self-storage marketplace founded in 2008, announced its agreement to acquire SiteLink, a provider of cloud-based software solutions for the self-storage industry. The deal allows the combined business to accelerate investment, drive innovation, and generate value for both consumers and facility operators in the $38 billion self-storage industry.
Cove Hill Partners, a private equity firm based in Boston, will acquire a majority stake in both businesses. SpareFoot CEO Chuck Gordon will become CEO of the combined company, and Ross Lampe will remain President of SiteLink with his team continuing to serve self-storage customers.
The combined company draws upon a strong team of experienced and talented employees, existing product integration and established personal relationships between the two businesses, and a shared mission to serve self-storage operators and consumers with a best-in-class experience.
“We’re excited to combine two of the most respected and successful technology companies in self-storage,” said Chuck Gordon, CEO of SpareFoot. “This deal and partnership with Cove Hill allows us to increase investment in our products to help self-storage operators run their businesses cost-effectively and help consumers find the perfect storage solution.”
“We have a unique opportunity to deepen our existing product integration and accelerate innovation,” said Markus Hecker, COO of SiteLink. “We remain committed to delivering value and will use our combined resources to help our customers grow their businesses.”
The strategic partnership will enable SpareFoot to find and deliver more tenants to facilities on its network and will accelerate technology investments at SiteLink; this includes myHub development, SiteLink Merchant Services and SiteLink Web Edition, its flagship product.