Private equity firms push hard for Access Self Storage sale
- A group of private equity firms has shown interest in Access Self Storage, currently on the market.
- Noteworthy bidders include TPG, Aermont, and Shurgard, with expectations set over £1 billion for the eventual sale.
- The increasing activity in the self-storage sector signals a thriving market with potential deals forthcoming.
In the United Kingdom, a group of bidders has shown interest in acquiring Access Self Storage, which is currently up for sale for more than £1 billion. Key players in this auction include TPG, a well-known private equity firm, along with Aermont, which is associated with notable holdings like Pinewood Studios. Another bidder involved is Shurgard, a Belgian-listed self-storage group. Reports suggest that QuadReal Property Group, a Canadian-based property investor, may also be among the potential buyers. The auction process, facilitated by JP Morgan, is anticipated to yield a price significantly exceeding the £1 billion mark. The self-storage sector has been increasingly active, particularly over the past year, with numerous transactions taking place. Notably, Shurgard acquired London-listed Lok 'n' Store for around £380 million previously. This heightened activity indicates a robust market demand and strategic interest in self-storage facilities as real estate investments. The competitive landscape is largely dominated by leading firms such as Safestore and Big Yellow, which are established names in the UK self-storage arena. As the auction progresses, it is expected that a deal will materialize in the coming months. Various parties have been asked for comments but have thus far remained tight-lipped about their involvement or insights related to the sale process. This silence highlights the typically confidential nature of such transactions in the finance and real estate sectors. Industry experts speculate that the eventual sale is likely to attract attention given the investment implications and the growing trend of self-storage popularity. The larger implications of these bids may impact the market by potentially redefining the landscape of self-storage services available in the UK. With significant financial power backing these bidders, such a transaction may improve the operational capabilities of Access Self Storage and attract further investments in the sector.