SSG Capital Advisors served as the investment banker to one of the funds of St. Cloud Capital, the senior secured lender of Renters Warehouse, a U.S.-based single-family home rental services platform. SSG provided debt advisory services to St. Cloud that facilitated the sale of the assets of RW OpCo, LLC (trading as Renters Warehouse) to GA Technologies through its subsidiary, GA Technologies USA Inc. The transaction was effectuated pursuant to Article 9 of the Uniform Commercial Code and closed this month.
Founded in 2007, Renters Warehouse is a real estate marketplace business and rental management platform for retail and institutional investors. With a single-family rental online marketplace in the U.S., Renters Warehouse leverages technology to provide services to stakeholders involved in real estate transactions, including investors, residents and management companies. The company was brought public in 2022 via a de-SPAC deal after years of growth. The transaction did not provide adequate liquidity to support the growth trajectory and the company and St. Cloud sought strategic alternatives to support operations and preserve the value of the platform.
SSG was retained to advise St. Cloud on its secured position and solicit offers for the sale of the assets of RW OpCo, which included equity interests in multiple operating subsidiaries. A bid received by Renters Warehouse from GA Technologies USA Inc. was the highest and best offer for substantially all the company’s assets.
