Lok'nStore

Last updated

Lok'nStore Group PLC
Company type Public
LSE:  LOK
Industry Storage
Founded1995
Headquarters Farnborough, Hampshire, UK
Number of locations
43 (March 2024)
Key people
Andrew Jacobs (Chair),
Ray Davies (Finance Director),
Neil Newman (Managing Director),
Tom Lampard (Property Director)
Revenue
  • Increase2.svg £25.3 million. Up 12.1% (2022: £22.5 million)
Number of employees
200+ (2024)
Website www.loknstore.co.uk
Footnotes /references
https://cdn.loknstore.co.uk/reports/annual-reports/LoknStore-Annual-Report-2023.pdf

Lok'nStoreGroup PLC [1] is a provider of self storage space in the UK. The company rents individual, storage units to both business and domestic / household customers. Lok'nStore has been listed on the Alternative Investment Market (AIM) since June 2000. [2] [3]

History

Lok'nStore was founded in February 1995 from one freehold store in Horsham, by Andrew Jacobs. [2] Five years later, in May 2000, the business became a public company known as Lok'NStore Group PLC. [4]

In 2003, the company received a takeover approach valued at around £33m, which was rejected by the Board. [5] [6] The company received a further takeover approach in 2009, which also did not proceed. [7]

In December 2018, the company purchased the existing storage business 'The Box Room' in Hedge End, Southampton. The Box Room building was then rebranded as an orange Lok'nStore centre. [8]

In February 2019, Lok'nStore Group PLC sold a document-storage business, Saracen Datastore Ltd, to Iron Mountain UK PLC for £7.6 million in order to pay down debt and help fund future acquisition and development plans. [9]

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References

  1. ↑ Lok'n Store Limited and Lok'n Store Group PLC are limited companies registered in England and Wales. Registered numbers: Lok'nStore Limited: 2902717 Lok'nStore Group PLC: 4007169
  2. 1 2 "About Lok'nStore | Lok'nStore". Lok'nStore. Retrieved 3 March 2024.
  3. ↑ "LOK'N STORE GROUP PLC LOK STOCK | London Stock Exchange". London Stock Exchange. Retrieved 3 March 2024.
  4. ↑ "LOK'N STORE GROUP PLC overview - Find and update company information - GOV.UK". Find and update company information | GOV.UK. Retrieved 3 March 2024.
  5. ↑ Foley, Stephen. "Lok'n Store shares soar on bid approach" . Retrieved 17 December 2019.
  6. ↑ "Site revaluation holds key to Lok'nStore's future". Independent.co.uk . 22 March 2004.
  7. ↑ "End of Offer Period" (PDF). London Stock Exchange. 21 July 2009. Retrieved 3 March 2024.
  8. ↑ "THE BOX ROOM (SELF STORAGE) LTD persons with significant control - Find and update company information - GOV.UK". Find and update company information | GOV.UK. Retrieved 3 March 2024.
  9. ↑ "Strategic Disposal" (PDF). Lok'nStore Group PLC. 1 February 2019. Retrieved 3 March 2024.
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