Go Store It Self Storage and Snapbox Self Storage Announce Merger
Ryan Hanks, Jake Ramage
The companies Go Store It Self Storage and Snapbox Self Storage have merged, combining their platforms to form one of the largest private self-storage operators in the United States. Operating as Go Store It Self Storage, the merged entity will oversee more than 10 million square feet of storage space and 145 locations across 23 states.
“The merger with Snapbox Self Storage represents a transformative step for both companies, providing the combined company with a more robust platform for growth and operational efficiency,” said Ryan Hanks, founder and chief executive officer of Go Store It.
Go Store It – a subsidiary of Madison Capital Group Holdings – and Snapbox Self Storage are FrontRange Capital portfolio companies. FrontRange Capital has invested approximately $100 million in Madison Capital and its affiliates, including Go Store It, and is making a co-GP commitment to the new entity.
Jake Ramage, CEO of Snapbox, reiterated Hanks’ sentiment.
“The Snapbox team is excited to join forces with Go Store It. While the increases in operational scale and efficiency are key benefits of the merger, equally compelling is how well our skillsets and cultures align. We are confident that together, as one team, we will build one of the premier self-storage platforms in the U.S.,” said Ramage.
This strategic merger is designed to enhance operational efficiencies and spur growth across three key areas: acquisition, development, and third-party management. The new company will operate under the Go Store It Self Storage brand, with executive leadership including Hanks and Ramage as co-CEOs; Matt Lang, president; Scott Hastings, chief financial officer; Evan Stephens, chief investment officer; and Beau Agnello, chief operating officer.
As the merged company moves forward, according to those involved, maximizing investor returns through deploying more capital for its strategic development and acquisition initiatives is a priority. With a strengthened national presence, the new entity’s leadership believes it is well-positioned to leverage its collective expertise and pursue growth opportunities more aggressively.
“This merger positions Go Store It for continued growth with integration of Snapbox’s executive and operations team. Because of the scale of the combined platforms, it gives Go Store It more operational strength and adds new markets to the existing Go Store It footprint,” concluded Hanks.
Madison Capital Group, a vertically integrated real estate development and investment firm headquartered in Charlotte, N.C., specializes in real estate investments with a focus on the self-storage and multifamily sectors. The company is the parent entity of Go Store It Self-Storage, a non-traded direct investment sponsor emphasizing self-storage, and Madison Communities, a vertically integrated real estate development and investment firm dedicated to crafting high-quality, suburban, garden-style apartment communities throughout the Southeast.
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