Lock Stock Self Storage has just signed the contract to acquire Craven Arms Self Storage along with Ludlow Self Storage, which is Brimfield in Herefordshire, between Ludlow and Leominster.
The deals will take Lock Stock up to 30 sites with over 4,600 units providing almost six million cubic feet of space – an increase of over 300,000 cubic feet or five per cent on last year.
Operations Manager Mike Trow said: “We have had a presence in the border counties for a while with sites in Shrewsbury, Oswestry and Newtown in Powys so it has very much been on our radar to expand there.
We have taken over two existing sites which makes for an easier transition but both will get the Lock Stock treatment with the storage units painted our trademark dark green on serviced and secure sites.”
“The two companies have worked closely together to clinch the deal and the process was made easy by the processes we have already put in place to deal with such acquisitions and to make the transition as seamless for customers as possible. We are continuing to look for more sites across Shropshire with a real emphasis on growing the business either by opening new sites or taking over existing storage parks.”
“We do see a gap in the market across the region between expensive, indoor storage and the cheaper more flexible option of container storage and we believe we can fill that gap.”
The sites were originally developed by Mark Carter, from Shrewsbury, who had previously been a London-based executive with the world’s biggest brewer, US giant Anheuser-Busch and then one of the worlds largest tobacco companies, British American tobacco.
He used his redundancy payout to open a container-based storage park in Craven Arms in 2013 with a second at Brimfield, near Ludlow, following in 2019.
He said: “I have always liked the way Lock Stock operate. They’re a family business just like us and they really value their customers so I know they’re going to be looked after. A couple of years ago Lock Stock had written to me to see if I was considering selling up and I had kept the letter and they were the first I contacted when I decided to finish.”
The Craven Arms site has 75 storage units ranging from five foot, 320 cubic foot units, to ten footers and 20-foot units with 1280 cubic feet of storage space. The Ludlow site currently has 162 units but Lock Stock have used computer-aided design to make space for 232 with the same mix of five-, ten- and 20-footers.
The latest acquisitions follows openings in Porthmadog and on Euston Road, Bangor, and their first site in Liverpool, at Huyton, and they have just taken on a new area site manager in Richard Warner.
He said: “I know the industry and I was impressed by the way Lock Stock is a small team and you can get to know everyone. It’s friendly and you feel valued.”
