Netherlands Self-Storage Operator Storage Share Saves Bankrupt Peer Boxx Via AcquisitionNetherlands Self-Storage Operator Storage Share Saves Bankrupt Peer Boxx Via Acquisition

Storage Share, which operates 60 self-storage facilities in the Netherlands, has acquired Boxx, which operates 22 facilities in the country and recently filed for bankruptcy. The purchase makes Storage Share one of the largest storage operators in the region, according to the source.

Storage Share plans to take over management of eight Boxx facilities. It will keep two additional locations open temporarily and exclude three others from the restart, though the source did not clarify whether they will be sold or simply closed. Plans for the remaining sites are unclear.

“After Boxx was declared bankrupt, we were approached by all competitors,” said Ernst-Paul Pandelitschka, a partner with legal firm Certa Advocaten, which owns Boxx. “We were able to figure it out quickly with Storage Share. It is a young company that has made its mark in the self-storage market in a short time. About 4,000 Boxx tenants will be relieved of their worries with this restart.”

Boxx has locations in Almere, Amersfoort, Amsterdam, The Hague, Haarlem, Rotterdam, Utrecht and Zaandam.

“For us, the tenants were and are our top priority. If it had not been restarted, all tenants would literally be on the street with their stored belongings,” said Julian Doorten, co-owner of Storage Share. “All attention is now focused on a smooth transition of all tenants—a monster job with 4,000 similarities. Once that has been completed, we will start leasing the former Boxx buildings so that we can help new customers. The next phase is that we will continue to expand within the Boxx locations.”

Based in Amsterdam and founded in 2016 by Doorten and Niels van Eck, Storage Share serves 15,000 tenants.

Source: Silicon Canals, Amsterdam’s Storage Share Acquires Bankrupt Peer Boxx, Preserving Belongings of 4000 People