Livingstone’s Business Services sector team is pleased to announce the sale of The Store Room, one of the UK’s leading independent self storage operators, to the Harbinger Group, a privately-funded industry consolidator.
The Store Room manages six sites at strategic locations in Manchester, Leeds, Bradford, Leicester, Preston and Rotherham providing secure and flexible space to private individuals and businesses. The business was founded in March 2007 by Managing Director Jeremy Bradburn with financial backing from seasoned entrepreneur David Hughes.
Jeremy Bradburn commented: “The Store Room has been one of the leading independent operators to have achieved real scale outside London and the South East and has built a loyal customer base based on the high quality and convenient locations of our facilities and our team’s commitment to customer service.” Jeremy will continue to manage the business under the new ownership structure.
Harbinger Group has been established by industry operator Chris Nimmo to consolidate the UK’s growing self-storage market using The Store Room as its initial platform for organic and inorganic growth. Harbinger has been funded by a private investor group led by wealth manager Mattiloi Woods co-funded the acquisition alongside Harbinger.
David Hughes added: “I am very proud of what we have achieved at The Store Room in a short period of time. The self-storage market is ripe for consolidation and there is a rich vein of opportunity for Harbinger to pursue. The team at Livingstone demonstrated an excellent knowledge of the sector, presenting us with options, and were instrumental in completing an attractive deal with Harbinger.”
Livingstone Associate Director Lewis Gray concluded: “It has been a great pleasure working with two such impressive entrepreneurs and we would wish Jeremy and his new colleagues at Harbinger every success in executing their buy-and-build strategy.”