Shurgard Plans $1 Billion IPO

June 7th, 2007

Shurgard Self Storage Europe plans to raise as much as 752 million euros, or $1 billion, in an initial public offering (IPO). Public Storage will own as much as 52 percent of Shurgard after the IPO. Shurgard owns 167 self-storage centers in seven European countries and said it plans to develop another 16.

IPOs aren’t something we see a lot of in the self-storage industry today, but it’s likely that we’ll see more in the future as the industry consolidates and more companies head for the public markets. The IPO will  help Shurgard fund its development plans in Europe, and is bringing positive attention to the industry. If the IPO goes off without a hitch, you can’t buy better marketing.

Entry Filed under: Industry Happenings