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Self-Storage Companies Make the 2023 Inc. 5000 List

Article-Self-Storage Companies Make the 2023 Inc. 5000 List

Five self-storage companies have been named to “Inc.” Magazine’s list of 5,000 fastest-growing private companies for 2023. They are 10 Federal Cos., Boardwalk Development Group LLC, Spartan Investment Group, StoragePug and Units Moving and Portable Storage.

10 Federal placed at No.1,616. Headquartered in Raleigh, North Carolina, the company operates more than 75 automated self-storage facilities in 12 states.

“Ranking 1,616 on the Inc. 5000 list is not just a number, it's a testament to the relentless dedication and unwavering commitment of every individual at 10 Federal Storage,” said Andrew Capranos, president. “We've embarked on a journey fueled by innovation, collaboration and a shared vision to redefine what's possible in our industry.”

Boardwalk ranked at No. 1,004. Founded in Atlanta in 2016 by Rajen Sheth, the company specializes in self-storage and boat/storage acquisition, development, investment and operation in the Southeast. It has acquired or built more than $500 million in the sector.

“We are honored to be a part of the Inc. 5000 list of fastest-growing private companies in America. Our outstanding Boardwalk team members are the reason why the company has grown so fast,” Sheth said.

Spartan placed on the list for the fourth consecutive year, falling from No. 128 in 2022 to 301 this year. Founded in 2013 and based in Golden, Colorado, the company focuses on self-storage development, property-management and real estate. It also operates the FreeUp Storage brand.

StoragePug placed at No. 782 in 2023, dropping from 575 last year. Cofounded by CEO Matt Huddleston and chief operating officer Tommy Nguyen, the company offers self-storage management software and other technology as well as website-development services. It’s based in Knoxville, Tennessee.

Units landed on the list for the fourth year running. With its latest ranking at No. 2,404, the company jumped 374 spots from last year. Based in Charleston, South Carolina, it provides portable-storage containers to the self-storage and moving industries.

“This recognition further cements Units as an industry leader in growth and innovation in the portable-storage industry,” said company CEO Michael McAlhany.

The annual Inc. 5000 list identifies the private businesses with “the most proven track records,” ranked by revenue growth. Companies are placed according to percentage increase from 2019 to 2022. To qualify, they must have been founded and income-generating by March 31, 2019. They must also be U.S.-based, privately held, for-profit and independent. Companies on the 2023 list account for $358 billion in profits, according to

“Running a business has only gotten harder since the end of the pandemic,” said Inc. Editor-in-Chief Scott Omelianuk. “To make the Inc. 5000—with the fast growth that requires—is truly an accomplishment. ‘Inc.’ is thrilled to honor the companies that are building our future.”

The honorees will be celebrated at the Inc. 5000 Conference & Gala, Oct. 31 to Nov. 2. In addition, the top 500 companies will be featured in the September issue of “Inc.” Magazine.

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