Lok'nStore

Lok'nStore Group PLC[1] was a provider of self storage space in the UK. The company rented individual, storage units to both business and domestic / household customers. Lok'nStore was listed on the Alternative Investment Market (AIM) since June 2000.[2][3]

History

Lok'nStore was founded in February 1995 from one freehold store in Horsham, by Andrew Jacobs.[2] Five years later, in May 2000, the business became a public company known as Lok'NStore Group PLC.[4]

In 2003, the company received a takeover approach valued at around £33m, which was rejected by the Board.[5][6] The company received a further takeover approach in 2009, which also did not proceed.[7]

In December 2018, the company purchased the existing storage business 'The Box Room' in Hedge End, Southampton. The Box Room building was then rebranded as an orange Lok'nStore centre.[8]

In February 2019, Lok'nStore Group PLC sold a document-storage business, Saracen Datastore Ltd, to Iron Mountain UK PLC for £7.6 million in order to pay down debt and help fund future acquisition and development plans.[9]

In August 2024, Lok'nStore was acquired by Shurgard at a price of £11.10 per share, representing a total equity value of £378,000,000 and a total all-in cost of £613,000,000.[10]