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U.K. Mogul Sells Armadillo Self Storage for $40M

Entrepreneur Alister Jack has sold his U.K.-based Armadillo Self Storage business to financial and banking conglomerate HSBC for £40 million.

Entrepreneur Alister Jack sold his U.K.-based Armadillo Self Storage business for £40 million, the Business Sale Report of London reported today. He received 10 expressions of interest and six bids for the company before selling to the property and infrastructure arm of HSBC, one of the worlds largest international providers of banking and financial services.

Launched in 2003 and based in Edinburgh, Scotland, Armadillo has 10 branches in Scotland and North England. Its clients include multinational corporations such as Diageo and AON, as well as domestic customers and students.

In 2002, Jack sold sister company Aardvark Self Storage to Mentmore Spaces for £30 million. He has also negotiated the sale of his French storage business, Armadillo Self Stockage, but will retain Jenners Depository, which he purchased in February 2006. Jack now sets his sights on the startup of a third self-storage venture.

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