Safestore's 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.
At the time of acquisition, Safestore was an AIM-listed company that needed access to capital to exploit property 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.
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, subsequently winding down its remaining position and exiting the business completely in 2011.
