StorageVault Finalizes $71.5 Million Acquisition in Toronto
StorageVault Completes Major Property Acquisition
StorageVault Canada Inc. ("StorageVault") (SVI-TSX) recently announced a significant milestone in its growth strategy by successfully finalizing the acquisition of two adjacent properties in Toronto. This transaction, valued at a total of $71,500,000, marks a pivotal moment for the company as it expands its footprint within the Canadian storage market.
Financial Overview of the Acquisition
The purchase price of this acquisition was strategically financed through a combination of a mortgage and funds the company had readily available. This approach not only facilitates immediate growth but also indicates StorageVault's robust financial health and ability to effectively manage its resources.
About StorageVault Canada Inc.
StorageVault has established itself as a leader in the storage industry, proudly operating 249 locations across the nation. Of these, the company owns 219 facilities, augmented by a fleet of over 5,000 portable storage units. Collectively, these assets represent an impressive 12.4 million rentable square feet sprawled over approximately 715 acres of land.
Services Offered
Beyond simply storage solutions, StorageVault is also known for its last-mile logistics services. The company specializes in professional records management, which includes vital services like document storage, media handling, imaging, and environmentally responsible shredding services. This comprehensive service offering caters to both individual and corporate clients, meeting a variety of storage needs.
Company's Future Growth Prospects
With this recent acquisition, StorageVault positions itself for promising growth opportunities. The new properties enhance its capacity to serve existing clients while attracting new ones. As urban centers like Toronto continue to grow, the demand for efficient storage solutions is projected to rise steadily.
Engaging with StorageVault
Those looking for more information or wishing to connect with StorageVault can reach out directly. Interested parties can contact Mr. Steven Scott or Mr. Iqbal Khan at the company's dedicated phone line: 1-877-622-0205.
Frequently Asked Questions
What is the total cost of the recent acquisition by StorageVault?
The acquisition was completed for a total purchase price of $71,500,000.
How many storage locations does StorageVault operate?
StorageVault currently owns and operates 249 storage locations throughout Canada.
What services does StorageVault offer beyond storage?
In addition to storage, StorageVault provides last-mile logistics solutions and professional records management services including shredding and imaging.
Who can I contact for more information about StorageVault?
For inquiries, you can contact Mr. Steven Scott or Mr. Iqbal Khan at 1-877-622-0205.
What is the ticker symbol for StorageVault?
The stock ticker for StorageVault is SVI, which is traded on the TSX.
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