WHA invested 29.40% in Storage Asia expanding self storage business
The acquisition of 29.40 % marks a strategic partnership to expand its logistics portfolio and offer tech-driven services to support the fast-growing sector
WHA Corporation Public Company Limited (WHA), Thailand’s leader in fully-integrated logistics and industrial facilities solutions, today announced it has acquired a 29.40% stake in Storage Asia Co., Ltd. (Storage Asia), a leading premium self-storage solution, under the brand “i-Store Self Storage”. The new acquisition is in line with WHA Group’s strategy to embrace new market opportunities through meaningful investments and create new value for its customers and industry as a whole.
As a leading developer of logistics solutions, commercial properties and industrial estates, WHA Group aims to constantly expand its business footprint, under its long-term strategy to create a value-added, innovation and one-stop service solution that supports customers’ needs as well as moves forward and grows sustainably in Thailand and across the region. As urbanization trends are on the rise, WHA Group has realized a great opportunity in the self-storage industry. The business has proven to be in high demand and continues to grow in the new era. People who are living and working in smaller spaces often have trouble managing their storage space. WHA Group has seen great potential in the premium self-storage business, resulting in its decision to invest in Storage Asia, a top player in the business.
Established in 2015, Storage Asia is a leading private storage service business under the brand “i-Store Self Storage”, offering a wide range of high-quality and reliable private storage solutions. Its customers are both individuals and businesses who are looking for a secure space for their valuable belongings. Clients can enjoy a customized storage size that can fit their possession with the best self-storage service and highest quality. The company currently operates 2 branches in the heart of the cities; two in Bangkok (Silom branch and Sukhumvit Soi 24 branch) and will be opening two more branches in Sukhumvit 71 and Pattaya City in 1st quarter 2022, with a plan to expand its operations nationwide.
With the acquisition, WHA Group and Storage Asia will jointly create value-added services and solutions for their customers, offering a tailor-made solution package with the aim to support the business and its client requirements. The win-win alliance will streamline business operations.
“We are very excited about this new collaboration with Storage Asia. Branching out into new business territories to establish a sustainable and steady growth is part of our Corporate DNA,” said Ms Jareeporn Jarukornsakul, Chairman and Group CEO, “Together, we will leverage on our expertise and know-how in logistics business to create enhanced self-storage services, using advanced technologies and innovation. The demand for smart, integrated solutions is here to stay. We are committed to driving business success with our partners, growing together sustainably and ready to support our customers’ needs including coping with sudden disruption change. This collaboration is to fulfill and expand its logistics business as well as create synergy with each other to have the value-added products and provide innovative services. Over the next few years, WHA Group will continue to seek new investment opportunities with the right partners to diversify its portfolio and contribute to sustainable economic growth for the country and the region,” she said. “The acquisition definitely opens new business doors for Storage Asia,” said Mr. Pakdee Anivat, Chief Executive Officer of Storage Asia Co., Ltd. and Founder of i-Store Self Storage. “Through WHA Group’s regionwide network and strong relationship with key strategic partners, we can expand our client base to more sectors. We firmly believe we are in good hands with WHA Group. We are looking forward to creating innovative one-stop services with them, to tackle today’s space and logistics-related challenges,” he further commented.