Shurgard takes over competitor Pickens in partnership with Dechert

Europe’s premier self-storage provider Shurgard has acquired its competitor Pickens, bolstering its presence in Germany with six additional locations in Hamburg and Berlin.

According to company reports, the transaction volume totals a substantial €120 million.

Shurgard, based in USA, owns or operates 277 self-storage facilities across Europe, boasting approximately 1.4 million square meters of rentable storage space. With the Pickens acquisition finalized, Shurgard will operate 36 locations in Germany.

Consultants involved in the deal include:

For Shurgard:

  • Dechert (Munich): Dr. Olaf Faßhauer (Real Estate Law; pictured, left), Giovanni Russo (both lead partners), Carina Klaes-Staudt, Dr. Karl von Rumohr (all Corporate/M&A), Clemens Graf York (Antitrust Law), Gottfried Graf von Bassewitz; Associates: Florian Leitsbach, Alexa Serafin, Georg Littmann, Anna Ziegler (all Corporate/M&A), Thirith von Doehren (Antitrust Law).

For Pickens:

  • Vesthaus (Hamburg): Dr. Götz von Olenhusen (lead partner; Real Estate Law/M&A; pictured, right), Dennis Karaosman (Real Estate Law), Dr. Christine Stadermann (Real Estate Law); Associate: Dr. Jan Hermsen (Corporate/M&A);
  • EmLab (Hamburg): Patrick Wendler (lead partner); Associate: Kristin Kammann (both Labor Law)
  • Neuland (Frankfurt): Dr. Christoffer Bortz (lead partner); Associate: Tim Müller (both IP/IT)
  • Rocan (Düsseldorf): Dr. Tobias Pukropski (Antitrust Law)
  • RSM Ebner Stolz (Hamburg): Andy Laatsch (Taxation).