Kangaroo Self Storage has acquired England-based operator Smart Storage Ltd. The £13 million deal triples Kangaroo’s portfolio to nine locations and expands the company’s presence below the Scottish border. The transaction boosts the Kangaroo footprint to 442,000 square feet, with 310,000 square feet currently under lease, according to the source.
In conjunction with the transaction, Kangaroo Managing Director Chris Stevens will become chief executive of the expanded company. Stevens intends to grow Kangaroo through further acquisitions as well as investing in its existing facilities. “My strategy will be to maintain, develop and invest in the caring, can-do attitude of the staff in both businesses, as we realize the substantial growth that I believe is possible," he told the source. "As awareness is raised in the self-storage market, we are well-positioned to meet this demand with high-quality stores in strong-performing local markets.”
Smart Storage operates six self-storage facilities in Northwest England—Altrincham, Liverpool, Preston, Warrington, Widnes and Wirral.
Based in Haddington, Scotland, Kangaroo operates self-storage properties in Dundee, Edinburgh and Glasgow, Scotland. It’s scheduled begin the second phase of development at the Edinburg facility “shortly,” Stevens said.
Source:
Insider, Scottish Self Storage Specialist Spreads Its Wings South of the Border