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After a rigorous sale process, we have no doubt that Davidson Kempner\/Pithos Capital will continue to develop the company as the U.K.\u2019s largest independent self-storage provider, and we look forward to following its progress.\u201d – Cathy and Keith Taylor, UK Storage Co. Ltd<\/span><\/span><\/span><\/p><\/blockquote>\n
An investor syndicate comprised of funds advised by Davidson Kempner Capital Management LP and Pithos Capital has acquired UK Storage Co. Ltd., which operates 28 freehold and leasehold self-storage facilities across the United Kingdom. The company\u2019s portfolio comprises about 900,000 rentable square feet in 11,000 units, according to a press release.<\/span><\/span><\/span><\/p>\n
UK Storage was launched in 2005 by the husband-and-wife team Cathy and Keith Taylor. \u201cWe are delighted to have found a perfect match to drive the growth of the company,\u201d the couple said in a joint statement. \u201cAfter a rigorous sale process, we have no doubt that Davidson Kempner\/Pithos Capital will continue to develop the company as the U.K.\u2019s largest independent self-storage provider, and we look forward to following its progress.\u201d<\/span><\/span><\/span><\/p>\n
Davidson Kempner is a global investment management firm with approximately $38 billion in assets under management, according to its website. Its U.S. self-storage interests include SpareBox Storage, which operates as a joint venture between investment funds advised by Davidson Kempner and Rizk Ventures. Founded in August 2020, SpareBox operates more than 100 self-storage facilities across nine states.<\/span><\/span><\/span><\/p>\n
Based in Luxembourg, Pithos specializes in European self-storage investment opportunities, according to its website. The UK Storage purchase is the company\u2019s first U.K. self-storge investment. The firm also owns YoGuardo in Spain and Zebra Box in Switzerland, according to a source.<\/span><\/span><\/span><\/p>\n
The Taylors were advised by FinnCap Cavendish, a U.K. firm that specializes in mergers and acquisitions. \u201cThis transaction is particularly significant given [UK Storage\u2019s] scale in the U.K., history of strong financial performance as well as its huge growth potential,\u201d FinnCap partner Peter Gray and director Nehal Patel said.<\/span><\/span><\/span><\/p>\n