A COUPLE who started out in business in Bridgwater and Taunton have just sold it in a multi-million pound deal.

Their self-storage company, which opened its first two sites in the two towns in 2005, has been bought out by a consortium that has has taken out a £37million loan.

Keith and Cathy Taylor are exiting UK Storage Company after 18 years, during which it has set up operations in a further 28 locations in England.

It has units in East Quay, Bridgwater, and Courtlands Industrial Estate, Norton Fitzwarren.

The company has been bought by a consortium that includes operating partner Pithos Capital and investment funds supervised by Davidson Kempner Capital Managament LLP.

The buyout is being backed by a loan from OakNorth Bank

 

Director of debt finance at OakNorth Martin Williams said: "The UK’s self-storage market has experienced significant growth over recent times, driven by people who are reconfiguring their homes to accommodate hybrid working or unable to upsize and instead choosing to put their possessions elsewhere.

“UK Storage Company, which enjoys an excellent reputation for delivering a top-quality service, is in a perfect position to capitalise on this opportunity.

“We thrive on supporting sector specialists such as Pithos Capital and established investors such as Davidson Kempner in acquiring a fast-growing and previously family-run business like UK Storage Company and helping it to achieve its growth ambitions.

"We’re excited to be part of the company’s growth story.”

 

All of UK Storage Company's locations, which together have over 880,000 square feet of storage space, are fully automated and give customers 24-hour access to their units using a personal access code.

Story by Josie Cohen, on work experience.