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Case Study

Space Maker Corporate Sale

Space Maker is a self storage company operating across the UK.  Following significant organic growth and a recent corporate acquisition, the main (US-based) shareholders sought advice on realising best value in the business.  The self storage business had grown to 10 sites and an annual turnover of £7.5m.

Following a well prepared business pitch, the Jones Lang LaSalle Corporate Finance team was selected to advise the shareholders on the disposal of the Space Maker business. After being appointed, Jones Lang LaSalle Corporate Finance carried out full corporate due diligence and completed a valuation of the business, including the DCF and earnings multiple approaches.

Space Maker was presented to the market as a growing operator in the underdeveloped UK self storage industry.  The comprehensive Information Memorandum proved to be very reliable for the market, including Property Companies, Banks, Private Equity houses and Trade Operators.

Undertaking a two-stage sale process, two parties progressed to the final stage and undertook full due diligence.  The Jones Lang LaSalle Corporate Finance team were also instrumental in advising the Space Maker Management Team on achieving the best possible deal once the acquisition was complete.

The Space Maker business was sold to Babcock & Brown Private Equity Investors for £63m, representing an 18.0x forecast EBITDA multiple.

This extraordinary result in the sale of Space Maker exceeded client expectations and was achieved through the determination and transactional experience of the Jones Lang LaSalle Corporate Finance Team.

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