Lok'nStore
 | This article may have been created or edited in return for undisclosed payments, a violation of Wikipedia's terms of use. It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view. (January 2022) |
 | This article's factual accuracy may be compromised due to out-of-date information. The reason given is: Lok'nStore has been sold to Shurgard; all locations were transferred on 1 August 2024. (August 2024) |
 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]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]- ^ 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
- ^ a b "About Lok'nStore | Lok'nStore". Lok'nStore. Retrieved 3 March 2024.
- ^ "LOK'N STORE GROUP PLC LOK STOCK | London Stock Exchange". London Stock Exchange. Retrieved 3 March 2024.
- ^ "LOK'N STORE GROUP PLC overview - Find and update company information - GOV.UK". Find and update company information | GOV.UK. Retrieved 3 March 2024.
- ^ Foley, Stephen. "Lok'n Store shares soar on bid approach". Retrieved 17 December 2019.
- ^ "Site revaluation holds key to Lok'nStore's future". Independent.co.uk. 22 March 2004.
- ^ "End of Offer Period" (PDF). London Stock Exchange. 21 July 2009. Retrieved 3 March 2024.
- ^ "THE BOX ROOM (SELF STORAGE) LTD persons with significant control - Find and update company information - GOV.UK". Find and update company information | GOV.UK. Retrieved 3 March 2024.
- ^ "Strategic Disposal" (PDF). Lok'nStore Group PLC. 1 February 2019. Retrieved 3 March 2024.
- ^ https://static.shurgard.com/corporate/-/media/shurgard/investor/docs/loknstore/presentation-shurgard-to-acquire-loknstore-group-plc.pdf [bare URL PDF]