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StorageVault to Acquire Three Stores in Ontario, British Columbia for CDN 55m
Wednesday 22 May 2019

22 May 2019 - Canada-based storage location owner Storagevault Canada Inc. has entered into two separate agreements to acquire two stores in Ontario and one store in British Columbia from two vendor groups for an aggregate purchase price of CDN 55m (USD 41m), the company said.
The assets and business, but not the real property, of the British Columbia store will be purchased from Access Self Storage Inc. for a cash payment to Access from StorageVault and the receipt by Access of the Access Payment Share Consideration.
Other than the acquisition of the BC Assets and Business from Access, the acquisitions are from arm's length Vendors.
The aggregate purchase price for the acquisitions is CDN 55m, and is payable by the issuance of an aggregate of CDN 7m (USD 5.22m) of StorageVault common shares.
StorageVault Canada Inc. owns and operates 199 storage locations in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, and Nova Scotia. StorageVault owns 148 of these locations plus over 4,600 portable storage units representing over 7.9 m rentable square feet.
Date Published: 22/05/2019
Target: Two stores in Ontario and one store in British Columbia
Country: Canada
Deal Size: 41m (USD)
Sector: Construction/Real Estate
Type: Corporate acquisition
Financing: Stock
Status: Agreed
Buyer: Storagevault Canada Inc