Australia Self-Storage Operator StoreLocal Seeks Equity Partner to Expand PortfolioAustralia Self-Storage Operator StoreLocal Seeks Equity Partner to Expand Portfolio

Australian self-storage operator StoreLocal Pty. Ltd. is seeking an equity partner to provide capital for portfolio expansion. Company cofounders Mark Greig, Rob Mactaggart and Hans Pearson have hired corporate adviser Highbury Partners to reassess the organization’s capital structure, according to a source.

StoreLocal received a $100 million investment in 2022 from Switzerland-based Partners Group AG, a global private-markets firm, to fund its previous expansion.

Founded in 2015, StoreLocal is locally owned and operated. It has 31 facilities in New South Wales, Queensland, Southern Australia, Victoria and Western Australia, with two more under development. Its portfolio is valued at more than $300 million.

Source: Financial Review, Self-Storage Player StoreLocal Seeks Growth Partner; Mandates Highbury