Cityvarasto Oyj is planning an initial public offering and to list its shares on the Nasdaq First North Growth Market Finland.
The contemplated IPO is expected to consist of a share sale by certain existing shareholders of Cityvarasto and of a share issue by the company of approximately EUR 15 million (gross proceeds).
Elo Mutual Pension Insurance Company, Odin Eiendom, certain funds managed by SP-Fund Management Company, SKAGEN Funds, Takoa Invest and Biomerit, a company controlled by the chairman of Cityvarasto's Board of Directors Aki Kostiander, (together the "Cornerstone Investors") have each individually committed to subscribe for shares in the company amounting, in total, to approximately EUR 20 million in the contemplated IPO, subject to certain conditions and on the condition that the maximum valuation of all shares in the company does not exceed EUR 120 million (before any proceeds from the share issue).
The proceeds from the share issue are intended to be used for supporting Cityvarasto's growth strategy, including facility acquisitions and development projects, mergers and acquisitions, as well as other growth investments, and to the company's general corporate purposes.
CEO Ville Stenroos
We founded Cityvarasto 25 years ago with my classmate and the company's COO, Matti Heiskanen, and we are now the largest self-storage operator in Finland in terms of number of facilities.
As an entrepreneur, my attitude is "grow or fade". This means taking calculated risks – we operate analytically and base our decisions on numbers. It is important for me to always do things better than yesterday, and we are always looking to grow and develop. In business, the danger begins when you feel that something could now be finished.
Self-storage is an internationally growing industry and we are supported by strong trends. Urbanisation is progressing, and apartments and storage spaces are getting smaller while the amount of goods is increasing. Demand is also driven by very common and significant life events and changes that are independent of economic cycles.
We want to offer space to live.
Welcome to the Company Presentation!
Cityvarasto hosted a company presentation on 16 September, at 1:00 PM. Watch below the recording of the event.
Releases
Cityvarasto in brief
Cityvarasto is a Finnish company established in 1999, operating in the self-storage, van rental and moving services sectors. In addition to the parent company Cityvarasto Oyj, the Cityvarasto Group includes, as its principal subsidiaries, PakuOvelle.com Oy, which specialises in van rentals, and Suomen Opiskelijamuutot Oy, a moving services company. The Cityvarasto Group employed an average of 58 people and reported revenue of EUR 22.4 million for the financial year ended 31 December 2024.
Cityvarasto
© 2025 Cityvarasto Ltd
Privacy policy