Lok'nStore
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| Lok'nStore Group PLC Logo Lok'nStore Logo | |
| Company type | Public |
|---|---|
| LSE: LOK | |
| Industry | Storage |
| Founded | 1995 |
| Defunct | 1 August 2024 |
| Headquarters | Farnborough, Hampshire, UK |
Number of locations | 43 (March 2024) |
Key people | Andrew Jacobs (Chair), Ray Davies (Finance Director), Neil Newman (Managing Director), Tom Lampard (Property Director) |
| Revenue |
|
Number of employees | 200+ (2024) |
| Website | www |
| Footnotes / references https://cdn.loknstore.co.uk/reports/annual-reports/LoknStore-Annual-Report-2023.pdf | |
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
[edit | edit source]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]
References
[edit | edit source]- ^ Lok'n Store Limited and Lok'n Store Group PLC are limited companies registered in England and Wales. Registered numbers: Lok'nStore Limited: 2902717 Lok'nStore Group PLC: 4007169
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