Ruffena Property Partners supported the successful completion of funding for the buy-out of and established self storage operator, The Store Room, which creates a platform for further growth through acquisitions and store development.
Ruffena Property Partners LLP are delighted to announce that working with one of their established banking partners, they have completed the buyout of The Store Room Ltd, a Midlands based self-storage business.
The management team are led by Christopher Nimmo who bought out the original founders’ shares as part of the next chapter for The Storage Room which will see the selective expansion of the company across the U.K.
Chris Nimmo commented; “I am delighted we have managed not only to acquire the Store Room business but also to bring with it the existing management team who will be fundamental to the success of the business in the future. We will now work together to deliver on our plans for future growth across the U.K."
Debt funding was advised on and arranged by Ruffena Property, working with one of their challenger bank relationships. The transaction was completed in November 2018 and structured as a blend of debt and equity.
Douglas West of Ruffena Property Partners, “From the very begining it was clear that the opportunities for consolidation and growth in the UK self storage sector were compelling. Chris bought with him a huge amount of experience in the sector and had a great story to tell about the opportunities for growth and the potential within the target portfolio. We worked extensively with Chris and his team for almost a year to help bring his vision to life.”
ABOUT RUFFENA PROPERTY PARTNERS LLP
Established in 2018, Ruffena Property Partners has evolved alongside it's sister business, Ruffena Capital to become a boutique real estate advisory business with its own investment platform - focused on raising capital for its clients. Ruffena’s investors are largely a private audience of experienced UK and international investors, funds, family offices and certain wealth managers, who prefer off market, deliverable projects with a strong and experienced management team.