Amidst the dynamic UK market, this company is focused on a self storage growth strategy, aiming to establish a national network of secure storage solutions.

Company Profile

Operating in the fast-growing UK self storage sector, this company offers a variety of secure storage options for both domestic and commercial users. Initially finding moderate success under private ownership, it was acquired by an industry veteran CEO to form a national network of facilities.

CEO’s Mission

With the goal of creating a national brand and expanding across the UK, the CEO faced challenges due to insufficient investment, strategic direction, and marketing consistency. The operational team, though eager to improve, lacked clear guidance due to the absence of a long-term strategy and specific business objectives. The appointment of a CCO and CFO was crucial in formulating a self storage growth strategy and implementing necessary processes and actions to realise the company’s ambitions.

CCO’s Objectives

  • Collaborate with the CEO on acquisition strategies and financing efforts.
  • Assist in recruiting a CFO to establish financial frameworks for business metrics visibility.
  • Develop a comprehensive strategic plan, including stabilising the existing business and creating a growth platform.

What the CCO Did

Supporting Initial Acquisition

Working closely with the CEO, the CCO played a pivotal role in securing debt funding partners for the initial acquisition. This involved a thorough analysis of the target portfolio and developing a strategic plan to demonstrate the potential for long-term value creation, an essential aspect of the self storage growth strategy.

Creation of a Strategic Roadmap for Growth

The CCO led the direction of commercial activities, including:

  • Developing the strategic plan and understanding market structure and dynamics.
  • Establishing a pricing framework and service partner programs.
  • Creating new service propositions and building relationships with key industry figures such as valuers.
  • Identifying and executing a pipeline for new facility development.
  • Liaising with funding partners and managing a rebranding initiative.

Day-to-Day Engagement with the Operational Team

In daily operations, the CCO, alongside the CEO, engaged with the management team, reviewing performance against budgets and plans, and setting future goals and objectives. This consistent interaction was crucial in aligning the operational team with the company’s self storage growth strategy, ensuring everyone worked towards common objectives.

The Results

  • Obtained £14.5m of funding to secure the initial acquisition 
  • Identified and helped secure a development pipeline of 10 new facilities  
  • Secured a development funding package of £35m   
  • Valuation of the business increased from the initial purchase at £18.5m to £42m over four years (Cushman and Wakefiled formal valuation) 
  • Achieved the FEEFO Platinum award for service excellence