Tue, 20 Jun 2023 | BUSINESS SALE
UK Storage Company Ltd has been sold to an investor syndicate.
As one of the UK's largest independent self-storage providers, UK Storage Company has a portfolio of both leasehold and freehold properties on 28 well-invested sites. The sites consist of 11,000 storage units equalling about 900,000 sq ft of built rentable space. The company also employs approximately 40 staff.
According to Companies House, UK Storage Company most recently reported Fixed assets of £14,926,067, Current assets of £2,147,422, Net assets equalling £9,767,887 and a profit of £4,758,411.
The investor syndicate which bought the self-storage company consisted of funds advised by Davidson Kempner Capital Management LP and Pithos Capital.
Keith and Cathy Taylor, owners of UK Storage Company Ltd, said: "We are delighted to have found a perfect match to drive the growth of the company we founded in 2005. After a rigorous sale process, we have no doubt that Davidson Kempner/Pithos Capital will continue to develop the company as the UK's largest independent self-storage provider and we look forward to following its progress.
"The finnCap Cavendish team, led by Nehal Patel, did a fantastic job, running a truly competitive process and managing the transaction with great skill. They were instrumental in delivering this deal and the successful outcome."
Partner of FinnCap Cavendish, Peter Gray and director Nehal Patel who were the lead advisers on the deal said: "We are very proud to have advised on this deal, further cementing finnCap Cavendish's expertise in the business services' space.
"This transaction is particularly significant given the company's scale in the UK, history of strong financial performance and as well as its huge growth potential."
Looking to buy a business? Read about how Analysis underlines importance of due diligence and integration.
A reputable supplier of spare parts to the heating and plumbing sector, this established business boasts steady growth and a strong cash flow track record.
This business presents a unique opportunity to acquire a well-positioned enterprise in the heart of Scotland, ready for further growth and development.
An opportunity has become available to acquire the business assets, both tangible and intangible, including any associated goodwill, of a well-established wholesaler and retailer that was incorporated in 2015.
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