An affiliate of Miami-based global investment firm H.I.G. Capital LLC has acquired an interest in U.K. self-storage operator Titan Storage Solutions. H.I.G., which specializes in alternative assets, was attracted to Titan’s “digital approach to asset procurement and ramp-up,” and intends for the joint partnership to expand Titan’s footprint in the region, according to Stelios Theodosiou, managing director at H.I.G. Europe Realty Partners.
Titan opened its first self-storage facility in Littlehampton, England, in 2012. It also operates properties in Bracknell, Braintree, Leamington Spa, Poole, Sidcup, Solihull and Woking, England. Its owned portfolio of five assets comprises 142,000 square feet, according to a press release.
“We are delighted to complete this transaction in line with our strategy of investing in platforms with strong underlying secular trends,” said Riccardo Dallolio, managing director of H.I.G. Europe Realty. “With platforms in the cold-storage, film-production and life-sciences sectors, we are focused on building best-in-class businesses which can achieve critical mass.”
H.I.G. has more than $47 billion of equity capital under management. It specializes in providing debt and equity capital to small and mid-sized companies, using a flexible and operationally focused approach. Its real estate funds invest in value-added properties, which can benefit from improved asset management, the release stated. It has offices in eight U.S. cities as well as affiliate offices in seven other countries.
Source: Business Wire, H.I.G. Realty Recapitalizes Self Storage Platform in the U.K.