Based on the proposal from Michael Fogelberg, who had just returned from USA after his graduation from Seattle university, Grana started to investigate the possibilities for the Self Storage concept in Europe in 1992.
For this purpose the new subsidiary European Self Storage SA was founded in 1992 in Belgium.
In 1994, after a year of negotiations, a partnership was formed with Shurgard Self Storage Inc., a leading self storage operator in the United States listed on the New York Stock Exchange. (NYSE, ticket SHU)
During the first period of the venture Grana was responsible for the partnership, financed initially most of the equity and created the base for the future successful expansion in Europe.
When the concept after some years was proven to be profitable also in Europe, the business was expanded and more partners were invited to join. In 1999 Deutsche Bank, the US insurance company AIG, Fremont Capital (a Finance Company within the Bechtel Corporation) and Credit Suisse First Boston Bank became partners in Shurgard Europe.
Shurgard Europe has since then expanded into seven countries and today Shurgard Europe is the leading and outstanding Self Storage operator and owner in Europe. Shurgard has more than 150 self storage centers in seven countries in Europe. The business started in Belgium 1995, Sweden 1997, France 1997, the United Kingdom 1997, the Netherlands 1999, Denmark 2001 and Germany 2003.
In total Shurgard has invested close to a billion Euros in Europe and today more than 600 people are working within Shurgard Europe in the different markets.
Grana International was until 2004 directly involved in the European business, both through management activities in several countries and serving on the European Board level.
Michael Fogelberg has been responsible for the developments in Belgium until 1997 when he moved to Sweden as President and responsible for the Scandinavian market.
Patrick Metdepenninghen has been responsible for different areas of financing the European expansion and has also been on the Board until 2003.
In 2003 Grana exchanged its interest in Shurgard Europe for ownership in the quoted parent company in the United States.
After the sale, Grana has been involved as a consultant to the European top management in different areas.
Public Storage Inc., the largest self-storage operator - and one of the 10 largest real estate owners in the world - merged in 2006 with Shurgard Inc. Public Storage is listed on NYSE (PSA).
