WHA Corporation Pcl. ("WHA Group"), 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 trend is 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 a great potential in the premium self-storage business, resulting to making 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, WHA Corporation Pcl. "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 suddenly disruption change. This collaboration is to fulfill and expand its logistics business as well as create synergy 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 partner, 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.
About WHA Group
WHA Corporation Pcl. (WHA Group) is Thailand's leader in fully-integrated logistics and industrial facilities solutions. WHA's operations consist of 4 business areas in Logistics, Industrial Development, Utilities & Power and Digital Platform with an integrated service offering that enables it to provide customers with turn-key solutions:
- Logistics - Customers can avail of built-to-suit factories, logistics facilities and distribution centers. This innovative concept was pioneered in the market since 2003 by WHA Corporation Pcl., with more than 2.49 million sq.m. in leasable area under owned and managed assets at 41 strategic locations nationwide to date.
- Industrial Development - As a world-class industrial estate developer, WHA offers strong and efficient infrastructure, utilities, industrial clusters including automotive and petrochemical clusters, and comprehensive industrial services. Today, WHA Industrial Development Plc. has 12+ operating industrial estates, covering over 72,500 rai, mostly located in Rayong, Chonburi (in the EEC) and in Saraburi. The EEC Management Committee has designated 9 WHA IEs as special industrial zones for targeted industries, in line with WHA Group's commitment to support the development of 10 target industries in the country. WHA is also developing an industrial estate, WHA Industrial Zone - Nghe An, in Vietnam.
- Utilities and Power - As the sole supplier of water and other utilities infrastructures, WHA Utilities and Power Plc. offers total security to industrial estate customers while enjoying strong partnerships with leading power operators. It targets approximately 150 mm m3 of water per year in 2021 and currently owns 596 operational equity MW.
- Digital Platform - In order to support its customers in their business intelligence operations, WHA Infonite Co., Ltd. actively provides comprehensive data solutions and platforms through its 4 data centers and FTTx covering 10 WHA Industrial Estates. The company has also acquired some shares in Supernap Thailand and continuously invests in digital infrastructure to serve leading multi-national and Thai companies.