M&A Deal Summary

SROA Capital Acquires StayLock Storage

On August 5, 2021, private equity real estate SROA Capital acquired real estate company StayLock Storage from Thompson Street Capital Partners and Cequel III

Acquisition Highlights
  • This is SROA Capital’s 1st transaction in the Real Estate sector.
  • This is SROA Capital’s 1st transaction in the United States.
  • This is SROA Capital’s 1st transaction in Missouri.

M&A Deal Summary

Date 2021-08-05
Target StayLock Storage
Sector Real Estate
Buyer(s) SROA Capital
Sellers(s) Thompson Street Capital Partners
Cequel III
Deal Type Secondary Buyout
Advisor(s) Jefferies (Financial)

Target

StayLock Storage

St. Louis, Missouri, United States
StayLock Storage is a provider of self-storage, under the StayLock banner. The facilities feature 916 non-climate controlled storage units and 37 spaces for boat and vehicle parking with five locations in Northwest Indiana. Locations include Demotte, Hebron, Kouts, Wheatfield, and Winfield (Lake of the Four Seasons), Indiana. StayLock Storage was founded in 2016 and is based in St. Louis, Missouri.

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Buyer(S) 1

DESCRIPTION

SROA Capital is a private equity real estate firm focused exclusively on the self storage industry. The Firm looks to acquire and roll-up mid-sized portfolios of operating storage properties with a preference for opportunities in the Eastern half of the US. SROA Capital was formed in 2013 and is headquartered in West Palm Beach, Florida.


DEAL STATS #
Overall 1 of 1
Sector (Real Estate) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Missouri) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1

Seller(S) 2

SELLER

Thompson Street Capital Partners

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Thompson Street Capital Partners is a private equity firm that targets control stakes in profitable, mid-sized North American companies with $5 to $20 million of EBITDA. Thompson Street looks for family businesses, private companies seeking liquidity, corporate divestitures, and public companies going private. Areas of interest include healthcare services, business services, electronics, information technology, and engineered products companies. Thompson Street will not consider investments in start-ups, early stage companies, or real estate. Thompson Street Capital was founded in 2000 and is based in St. Louis, Missouri.


DEAL STATS #
Overall 36 of 47
Sector (Real Estate) 1 of 1
Type (Secondary Buyout) 13 of 17
State (Missouri) 4 of 5
Country (United States) 36 of 47
Year (2021) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-01 Vetio Animal Health

St. Louis, Missouri, United States

Vetio Animal Health is a contract manufacturer of proprietary chemical-based products and solutions. Vetio Animal Health was founded in 1989 and is based in St. Louis, Missouri.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-07 Vector Laboratories

Newark, California, United States

Vector Laboratories is a provider of life science products, including labeling and detection reagents, that help medical and scientific researchers visualize cells in experiments that are central to the understanding of cancer and other diseases. Vector Laboratories was founded in 1976 and is based in Newark, California.

Buy -
SELLER

Cequel III

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Cequel III LLC is a specialist investment and management firm focused on the development of cable and telecommunications companies. Cequel was formed in 2002 and is based in St. Louis, Missouri.


DEAL STATS #
Overall 8 of 8
Sector (Real Estate) 1 of 1
Type (Secondary Buyout) 2 of 2
State (Missouri) 2 of 2
Country (United States) 8 of 8
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-05 Eclipse Business Capital

Chicago, Illinois, United States

Eclipse Business Capital is an asset-based lending platform that provides financing to middle-market borrowers. Encina provides revolving lines of credit and term loans ranging in size from $10–$100 million which are secured by accounts receivable, inventory, machinery & equipment, and real estate. Eclipse Business Capital was founded in 2016 and is based in Chicago, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-05 Springfield Urgent Care

Clarkston, Michigan, United States

Springfield Urgent Care is an operator of state-of-the-art walk-in clinics that provide quality care for non-life-threatening illnesses and injuries. Springfield Urgent Care was founded in 2017 and is based in Clarkston, Michigan.

Buy -