Travers Smith partner Andrew Gillen and senior corporate associate Andrew Gofton-Salmond advised existing client Safestore Holdings Plc on its entry into a put and call option to acquire self-storage business Space Maker Stores for initial consideration of £43m.
Space Maker Stores is the ninth largest self-storage portfolio in the UK with 12 stores located across the country. Safestore had a strong operational knowledge of the Space Maker Stores portfolio prior to this transaction, having managed the business since 2010 under a management services agreement. This acquisition is expected to reinforce Safestore's position as the leading operator in the UK by number of stores.
The Travers Smith team also included senior counsel Emma Pereira and associate Vicky Tipper who provided specialist property law advice.