Brazil self-storage operators Inbox Guarda Tudo and Pronto Espaço have merged to create SS Self Storage. The combined entity operates three facilities in São Paulo. The company intends to immediately expand its current properties, while looking to open new locations in cities with populations of more than 500,000 people, according to a press release.
“Joining our forces makes sense, first because it involves two companies with plenty of experience in the management of self-storage,” said Renato Daud, owner of Pronto Espaço. “In addition, we were able to identify synergy points in several areas, such as sales, customer service and logistics.”
The company principals intend to grow the presence of SS Self Storage by converting suitable properties, attracting other operators with vacant facilities and establishing partnerships with equity funds, the release stated. “We will allow the entry of other self-storage operators seeking economies of scale and greater geographic coverage,” noted Flavio Del Soldato Jr., director of Inbox Guarda Tudo.
The Brazil self-storage market has several competitors that rely on investment funds, the release stated. “These are companies that have many units and a wide dissemination capacity,” Del Soldato Jr. said.
The Brazil Self Storage Association estimates there are 216 facilities in Brazil comprising 390,000 square meters of rentable space. São Paulo dominates the market with 103 facilities, followed by Rio de Janeiro with 24 and Paraná with 14, according to the release.