Safestore

Safestore is a leading provider of self-storage to the UK market. Self-storage involves the provision of a clean, secure unit to which only customers have access and whose use is driven by relocation, house moves or requirements for additional storage space. Stores are usually located in high profile, main road locations close to densely populated areas.

Acquired 2003 Deal size €299m

Background

At the time of acquisition, Safestore was an AIM-listed company that needed access to capital to exploit properly market opportunities in the UK. Bridgepoint successfully de-listed the business and funded the £294 million acquisition, via a de-listing, of Mentmore plc, combining both businesses to create the largest UK player in self-storage and the No 2 in Europe.

Bridgepoint was attracted not only by the high growth potential of the UK self-storage market but also by Safestore's strong management team and a proven business model with scaleable earnings.

In 2007 Safestore was the subject of an IPO at a market capitalisation of £674 million and an enterprise value of £991 million.  Bridgepoint realised half of its shareholding, subsquently winding down its remaining position and exiting the business in 2011.

To learn more about the company, visit www.safestore.co.uk