William Blair served as exclusive financial advisor to SpareFoot. Cooley advised SiteLink Software on its agreement to sell to SpareFoot, an online self-storage marketplace.
SpareFoot, the world’s largest online self-storage marketplace, has agreed to acquire SiteLink, a leading provider of cloud-based software solutions for the self-storage industry. The deal will bring together two dynamic companies and allow 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 transactions are expected to close in the next 30 days, subject to customary closing conditions.
The combined company will draw 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.
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.
Cooley advised SiteLink Software with a team including Marc Samuel (Picture), Mark Petry, Justin Rattigan, Davison Paull, Amanda Pacheco, David Walsh, Keith Ranta, MaryBeth Shreiner, Tanisha A. James and Julia Renehan.
Involved fees earner: Marc Samuel – Cooley LLP; Justin Rattigan – Cooley LLP; Mark Petry – Cooley LLP; Davison Paull – Cooley LLP; Amanda Pacheco – Cooley LLP; David Walsh – Cooley LLP; Keith Ranta – Cooley LLP; MaryBeth Shreiner – Cooley LLP; Tanisha James – Cooley LLP; Julia Renehan – Cooley LLP;
Law Firms: Cooley LLP;
Clients: SiteLink Software, LLC;