A £40 million self-storage sale!

January 25th, 2007

Storage entrepreneur Alister Jack has sold his Armadillo self-storage business to the property and infrastructure arm of HSBC for £40m, according to the Business Sale Report.

“Jack, whose previous self-storage venture, Aardvark Self Storage, sold to Mentmore Spaces for £30m in 2002, received ten expressions of interests and six bids for the company before deciding to accept HSBC’s offer and now plans to start work on setting up a third self-storage company,” the report says.

Armadillo Self Storage has ten branches located mainly in Scotland and the North of England with multinational clients such as Diageo and AON, as well as domestic customers and students.

Just another testimony that self-storage is taking off worldwide. With investors like HSBC, you know the game is getting higher stakes all the time.

Click here to read the rest of this story on the Business Sale Report.

Entry Filed under: Industry Happenings