Self-Storage Firm Storable Acquires StorageAuctions.com

June 14, 2024

1 Min Read

Storable, a supplier of various products and services for the self-storage industry, acquired StorageAuctions.com, an online platform specializing in storage-unit auctions. This integration will allow Storable to offer its customers an in-house delinquency solution, according to a press release.

“Bringing StorageAuctions.com into the Storable family solidifies us as a truly comprehensive technology platform that spans the entire self-storage lifecycle,” said Chuck Gordon, CEO of Storable. “Most [self-storage] operators find auctions challenging and time-consuming. We can now simplify the auction process as part of our end-to-end offering, transforming it into a more efficient experience that removes friction and enhances operations.”

“Becoming part of the Storable team is a huge step forward for us,” said Lonnie Bickford, former owner of StorageAuctions.com. “It allows us to expand our auction services and capabilities by tapping into Storable’s cutting-edge technology and their wide presence across the storage industry. This partnership is going to transform how storage auctions are run and will help self-storage operators get the highest possible returns while providing an improved experience for bidders and buyers.”

Based in Austin, Texas, Storable offers cloud-based access control, management software, marketing and website services, payment processing, tenant insurance, and other self-storage products. In addition to StorageAuctions.com, its family of companies includes Bader, CallPotential, Easy Storage Solutions, SBOA Merchant Services, Select Merchant Solutions, SiteLink, storEdge and Storsmart. The company is backed by Boston-based private-equity firm Cove Hill Partners, which was founded in 2017 and manages an inaugural fund of more than $1 billion.

StorageAuctions.com aims to simplify the self-storage auction process and expand the reach of online lien-sale events, thereby increasing unit-sales potential.

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