Smedvig Capital backs SelStor

UK-based private equity investor Smedvig Capital has invested £15m (US$29m) in Sweden-based self-storage business SelStor AB.

SelStor has developed a portfolio of self storage sites in Sweden. The European self-storage market is currently believed to be under-developed compared to that of the US.

Rob Toms, Managing Director of Smedvig Capital commented: “SelStor is in the process of developing an attractive portfolio of sites within a buoyant Swedish market, which will place it in a strong position to move into less developed geographies within a few years.”