PFM-backed StorageVault to acquire Calgary self-storage assets for $15M
Regina, Saskatchewan-based StorageVault Canada Inc. – a portfolio investment of Canadian private equity firm PFM Capital Inc. – has announced its plans to acquire the self-storage assets of a Calgary-based business for just under $15 million.
The deal is expected to close at the end of October 2016 and will bring the company’s announced and closed deals in 2016 to about $50 million.
In addition, StorageVault is in negotiations with Access Self Storage Inc., a major shareholder of StorageVault, to purchase approximately $45 million of Access assets in Southern Ontario and Montreal, Quebec. It is anticipated that up to approximately 20 per cent of the purchase price will be satisfied by the issuance of common shares of StorageVault. Currently, however, there are no agreements, letters of intent or term sheets in respect of the Access negotiations.