LONDON, 25 April 2019: Metric Capital Partners LLP (“MCP”), the European private capital group, has announced today the establishment of the MCP Self-Storage Platform, created to provide growth capital to independent self-storage operators to acquire and build self-storage assets across the European market.

As part of the launch of the MCP Self-Storage Platform, Metric has acquired two independent self-storage operators in London, United Kingdom and Leipzig, Germany to support their strategic site rollout development and acquisition plans. The MCP commitment envisages funding new sites in the Greater London area and Germany.  The Platform is also reviewing investment opportunities in a number of additional European countries.  The strategy will be to capitalise on the growth and relative under-penetration of the asset class in Europe by backing local self-storage operators and leveraging the potential economies of scale of a large platform. This initiative builds on the Metric Capital progress made in our Fund II Investment in Less Mess Storage.

John Sinik, Managing Partner of Metric Capital and Chairman of the Metric Investment Committee, said: “Metric’s investment in the self-storage sector resonates well with the Metric investment strategy where we can structure robust downside protection while retaining control of key governance topics, but at the same time offer our partners attractive upside in the economic stake of the investment. We believe this platform could scale significantly with important economies of scale.”

Alastair Balfour, Partner of Metric Capital and Board Director of Less Mess Storage, said: “Metric’s investment thesis is based on the resilience of the business model, offering downside protection from the property portfolio, a low break-even point, robust cash-flow dynamics, and low development risk, together with interesting upside potential from a successful creation of shared central services. We have ambitious plans for this business and look forward to working alongside our partners and their teams in the UK and Germany to create value over the coming years.”

Dr. Sebastian Reinartz, Investment Director of Metric Capital DACH, commented on the transaction: “The acquisition of our German partner represents Metric’s first German acquisition in Fund III and our fourth investment in the DACH region  since the formation of the Fund. The establishment of the MCP Self-Storage Platform is a result of building in-depth knowledge in the self-storage industry through our investment in the sector, as well as execution resources throughout Europe. We’re excited by the opportunity to invest in the German self-storage industry at a time when the market is being recognized as an attractive high growth market.”

About Metric Capital

MCP is an independent and pan-European private capital group that invests in European firms by creating tailor-made capital solutions and seeks to support their ambitions by enabling them to execute strategic transactions. Metric Capital Partners aim to be a value-add partner to the companies in which it invests.

Metric Capital Partners manages nearly €1.6bn, spread over three funds raised since 2012, of which €860m was raised for Metric Private Capital III.

For further information please contact:

John Sinik, Managing Partner, Metric Capital Partners, Tel: +44 203 540 1558

Alastair Balfour, Partner, Metric Capital Partners, Tel: +44 203 750 9951

Dr. Sebastian Reinartz, Investment Director DACH, Metric Capital Partners, Tel: +49 173 430 5983