Flexistockage (Paris), the largest independent single-site self-storage operator in Europe, has been acquired by Pithos Capital and PGIM Real Estate, through their Zebrabox France joint venture in a deal advised by PKF Smith Cooper.
Our Corporate Finance team acted as lead advisors to the shareholders of Lynco SARL and Multibox SNC (trading as Flexistockage), delivering comprehensive support throughout the sale process. This included identifying potential purchasers, compiling trading data to articulate business performance, discreetly marketing the business to a targeted shortlist, negotiating terms, managing the transaction through to completion and collaborating with various advisors and professionals across several jurisdictions including France, Ireland, Switzerland and the United Kingdom. Strong interest was generated, with Pithos Capital and PGIM Real Estate ultimately selected as the preferred acquirer.
Flexi Stockage is a provider of self-storage and commercial office space with 8,300+ sqm of storage space located in Argenteuil, the Northwestern suburb of Paris. The site offers a wide range of unit sizes, attracting both domestic and commercial customers, and represents one of the largest self-storage facilities in Europe.
This strategic acquisition marks Zebrabox France’s entry into the Greater Paris market. Following the acquisition, Zebrabox France will implement comprehensive upgrades to transform the existing self-storage site to institutional-grade quality and best-in-class operational standards including full digital transformation, enhanced security infrastructure, and BREEAM certification. The comprehensive renovation program will commence immediately, with the facility remaining operational throughout the modernisation process.
Beyond traditional self-storage, the Argenteuil facility will operate as a multi-service logistics hub, offering office space for local businesses and entrepreneurs, parking services, and value-added logistics support.
This acquisition establishes Zebrabox France’s presence in the Île-de-France region, one of Europe’s most dynamic self-storage markets, and serves as a flagship location, demonstrating the joint venture’s capacity to reposition complex assets in highly competitive metropolitan markets while maintaining operational excellence.
Peter Lyons, Managing Director of Multibox and Lynco, commented: “We recently retained PKF Smith Cooper to handle the sale of our self-storage business Flexi Stockage located in Argenteuil, Paris. The PKF team headed by Mr Tom Joy ran a competitive sales process over a number of months which concluded with the sale of the business a short time ago.
PKF approached the sale process in a very structured manner and presented potential purchasers with a detailed information memorandum which encapsulated all the relevant information about the business and Property. Following this, a pan European search took place for potential purchasers which resulted in a suitable purchaser being identified, who in turn concluded the purchase of the facility.
We have no doubt that the professional and directed approach of Tom and his team greatly enhanced our prospects of a successful outcome to the process and maximised value for our business. Their knowledge and expertise of the self-storage industry is impressive and we want to express our appreciation to Tom and his team for their efforts on our behalf.”
Shirley Lyons, Operations Director of Multibox and Lynco, commented: “It was a pleasure working with Tom and his team at PKF throughout this sale. They alleviated the stress of liaising with the other side and handled the process efficiently. Their approachable manner and consistent guidance made what could have been a complex process feel smooth and manageable, and we truly valued their support from start to finish.”
Tom Joy, Corporate Finance Director, commented: “It has been a privilege to advise the Lyons family on the sale of Flexistockage, one of Europe’s premier independent self-storage operators. We are proud to have supported on this transaction and are excited to see the business become the Flagship site within Zebrabox growing portfolio across Europe”
The transaction was advised on by our Corporate Finance team, led by Tom Joy with support from Natasha Care. Legal advice was provided by Maud Gendron of Yards and François Pourrier of a contrario notaires.
