Lok'nStore

From Wikipedia, the free encyclopedia

Lok'nStore Group Plc
TypePublic
LSE: LOK
IndustryStorage
Founded1995
HeadquartersFarnborough, Hampshire, UK
Number of locations
37 (2021)
Key people
Andrew Jacobs (Executive Chairman),
Ray Davies (Finance Director),
Neil Newman (Managing Director)
Revenue
  • Increase £21.9 million. Up 21.3% (2020: £18.04 million)
Number of employees
170+ (2021)
Websitewww.loknstore.co.uk

Lok'nStore Group 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] Lok'nStore was one of the first self-storage companies in the UK, where the concept of self-storage lagged behind the development seen in the US. Lok'nStore is the fourth biggest player in the UK self-storage industry.

History[]

Lok'nStore was founded in February 1995 from one freehold store in Horsham, by Andrew Jacobs. Six years later the business became a public company.[citation needed]

In 2003, the company received a takeover approach valued at around £33m, which was rejected by the Board.[3][4] The company received a further takeover approach in 2009, which also did not proceed.[5]

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

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.[6]

Board of directors[]

A typical Lok'nStore facility
A UK Self Storage centre at night
A UK Self Storage centre

Andrew Jacobs (Executive Chairman)

Ray Davies (Group Finance Director)

Neil Newman-Shepherd (Group Managing Director)

Simon Thomas (Non-Executive Director)

Richard Holmes (Non-Executive Director)

Edward Luker (Non-Executive Director)

Charles Peal (Non-Executive Director)

Jeff Woyda (Non-Executive Director)

References[]

  1. ^ Lok'nStore Limited and Lok'nStore Group PLC are limited companies registered in England and Wales. Registered numbers: 2902717 and 4007169 respectively.
  2. ^ Mann, Harriet (19 October 2015). "Lok'nStore still undervalued". iii.co.uk. Retrieved 28 August 2017.
  3. ^ Foley, Stephen. "Lok'n Store shares soar on bid approach". Retrieved 17 December 2019.
  4. ^ "Site revaluation holds key to Lok'nStore's future". 22 March 2004.
  5. ^ https://cdn.loknstore.co.uk/announcements/2009/Announcement_End_of_Offer_Period.pdf
  6. ^ https://cdn.loknstore.co.uk/reports/RNS-Rock-FINAL-010219-LSE-Labelled.pdf

External links[]

Official website: www.loknstore.co.uk

Stub icon

This article about an English company is a stub. You can help Wikipedia by .

  • v
  • t
Retrieved from ""