{"id":21932,"date":"2023-09-11T02:43:00","date_gmt":"2023-09-11T02:43:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4205155_AE05155_0"},"modified":"2023-09-11T02:43:00","modified_gmt":"2023-09-11T02:43:00","slug":"warburg-pincus-backed-storhub-completes-acquisition-of-storage-plus-in-japan","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=21932","title":{"rendered":"Warburg Pincus-Backed StorHub Completes Acquisition of Storage PLUS in Japan"},"content":{"rendered":"
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– Represents one of the largest self-storage M&A transactions ever in Japan<\/span>   <\/p>\n

– Transaction consolidates StorHub’s position as a leading self-storage player in Japan<\/span> and it further reinforces StorHub’s position as the largest pan-Asia<\/span> self-storage platform with a strong and growing presence in seven key markets<\/p>\n

SINGAPORE<\/span>, Sept. 11, 2023<\/span> \/PRNewswire\/ — StorHub Group (StorHub or the Company), Asia’s<\/span> leading self-storage platform, announced today that it has completed a 100% share capital acquisition of Storage PLUS Corp., a premium self-storage provider in Japan<\/span> with a longstanding track record, from Ichigo Inc. Following the transaction, StorHub will become one of the largest self-storage operators in Japan<\/span>, with approximately 390 stores that are owned, leased and managed, and it also reaffirms StorHub’s position as the largest pan-Asia<\/span> self-storage platform with a strong and growing presence in seven key markets.<\/p>\n

\n

\"StorHub <\/a>
StorHub Self Storage, 615 Lorong Toa Payoh Singapore 319516<\/span><\/p>\n<\/p><\/div>\n

StorHub, founded in 2003 in Singapore<\/span>, is a pioneer in Asia’s<\/span> self-storage industry.  While StorHub initially focused on building a market leading presence in the Singapore<\/span> market, the Company has accelerated its growth over the past four years since Warburg Pincus’ acquisition.  Over that period, the Company has acquired and developed approximately 440 stores, becoming Asia’s<\/span> leading self-storage platform with facilities spanning over 6.4 million square feet of GFA and more than 70,000 storage units across Australia<\/span>, Greater China<\/span>, Japan<\/span>, Malaysia<\/span>, Singapore<\/span> and South Korea<\/span>.<\/p>\n

In achieving its outsized growth, StorHub has focused on corporate M&A in addition to organic growth.  In 2020, StorHub entered the Japan<\/span> market through the acquisition of Tokyo Reise Box, one of the oldest self-storage operators in Japan<\/span> (which was later rebranded as ROOT StorHub). Today, ROOT StorHub is one of the leading self-storage operators in Japan<\/span>. The addition of Storage PLUS, which is also a leading self-storage operator in Japan<\/span>, with approximately 100,000 square feet of GFA, is expected to deliver significant scale for the StorHub business in Japan<\/span>.<\/p>\n

Mike Hagbeck, CEO of StorHub, said, “We are pleased to welcome the Storage PLUS team to the StorHub Group. Storage PLUS is an industry leader in Japan<\/span> with a long track record of outperformance. This strategic move is set to accelerate our platform growth in Japan<\/span>. In recent years, the Japan<\/span> market has witnessed robust growth in self-storage demand. We are excited about the opportunities to bring our 20 years of experience and expertise in self-storage to a broader range of customers across the market.”<\/p>\n

Since its acquisition of StorHub from CapitaLand in 2019, Warburg Pincus quickly relaunched the business as a pan-regional Asia<\/span> focused platform. Over the past few years, Warburg Pincus has played a critical role in driving the growth and expansion of StorHub across the region. The platform aims to amass a high-quality portfolio of up to US$5bn<\/span> of assets via organic and M&A growth in the coming years with the plan of an eventual IPO.<\/p>\n

Li Fan<\/span>, Managing Director of Warburg Pincus and Board Director of StorHub, said, “We have continued to see strong underlying demand for self-storage driven by continued urbanization, rising housing prices in Asia’s<\/span> metropolitan areas and the de-cluttering of apartments due to hybrid work post pandemic. We believe Asia’s<\/span> self-storage industry is approaching an inflection point and is poised for accelerated growth in the coming years. StorHub is well-positioned with a best-in-class management team and an unmatched value proposition to capture the tremendous growth opportunities ahead.”<\/p>\n

Dan Morisaku<\/span>, Head of Business Promotion, said: “StorHub is a leading self-storage platform in Asia<\/span>, with strong backing from Warburg Pincus and a deeply experienced management team. Following a strategic review process, we believe StorHub is the ideal partner to lead the next phase of growth of Storage PLUS and deliver greater value to our customers.”<\/p>\n

About StorHub<\/b><\/p>\n

StorHub is a leading self-storage platform in Asia<\/span> with operations across key gateway cities in the Asia Pacific<\/span> region. Founded in Singapore<\/span> in 2003, StorHub currently owns and manages facilities spanning over 6.4 million square feet of GFA and more than 70,000 storage units across key markets in Australia<\/span>, Greater China<\/span>, Japan<\/span>, Malaysia<\/span>, Singapore<\/span> and South Korea<\/span>. StorHub offers individuals and businesses a range of reliable and secure storage solutions to resolve storage challenges at home or work. For more information, please visit https:\/\/www.storhub.com<\/a><\/p>\n

About Storage PLUS<\/b><\/p>\n

Storage PLUS is one of the leading self-storage operators in Japan<\/span>. Storage PLUS was acquired by Ichigo Inc. in 2017 and has since doubled in size from 16 stores to 35 stores, achieving occupancy of over 90% by digitizing Storage PLUS’s processes and strengthening its sales and marketing activities. For more information, please visit https:\/\/www.storageplus.co.jp\/<\/a>.<\/p>\n<\/p><\/div>\n

Source: StorHub Management Pte. Ltd.<\/p>\n","protected":false},"excerpt":{"rendered":"

– Represents one of the largest self-storage M&A transactions ever in Japan    – Transaction consolidates StorHub’s position as a leading self-storage player in Japan and it further reinforces StorHub’s position as the largest pan-Asia self-storage platform with a strong and growing presence in seven key markets SINGAPORE, Sept. 11, 2023 \/PRNewswire\/ — StorHub Group (StorHub or the Company), […]<\/p>\n","protected":false},"author":8,"featured_media":21933,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-21932","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"\nWarburg Pincus-Backed StorHub Completes Acquisition of Storage PLUS in Japan - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=21932\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Warburg Pincus-Backed StorHub Completes Acquisition of Storage PLUS in Japan - 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