Australia and Asia Self-Storage Operator StorHub Names New CEO

StorHub Group, which operates self-storage facilities in Australia and Asia, has hired Raju Ruparelia as its new CEO. He’ll succeed Mike Hagbeck, the company’s cofounder, who served in this role for five years. Hagbeck will become the non-executive chairman and remain a board director to help guide the group’s long-term strategy and continued market expansion, according to a press release.

“It has been an amazing journey of growth and partnership over the past five years with the company,” Hagbeck said. “After 25-plus years at the frontline of the industry, I am pleased to pass the reins over to Raju and look forward to supporting him and the management team in continuing to grow strongly in Storhub's next phase of development.”

Ruparelia has more than two decades of leadership experience and a track record for driving business growth and transformation, the release stated. Previously, he served as senior managing director and head of Asia-Pacific private capital for the Ontario Teachers' Pension Plan Board. In this role, he oversaw the firm's private-equity investing activities including real estate transactions with Cushman & Wakefield, DTZ Investors and Princeton Digital Group.

“We would like to thank Mike for his strong partnership and contribution to the company's first phase of growth,” said Li Fan, managing director of Warburg Pincus, the private-equity firm that owns StorHub. “We have built a very strong foundation and look forward to working closely with him as chairman to support Raju and the team on the company's next phase of accelerated growth. We are excited to welcome Raju to spearhead the continued business expansion and take the company to new heights.”

“I am excited to lead StorHub as the company enters its next phase of growth,” Ruparelia said. “With a deep and talented leadership team and the unwavering support of its investors, StorHub is uniquely positioned to capitalize on what is expected to be a multi-decade opportunity for self-storage in the region. I'm delighted to be part of this exciting journey and look forward to working with the exceptional teams across the region to accelerate the growth of the business and bring significant value to our customers and partners.”

Launched in 2019, StorHub owns and manages 470 self-storage facilities spanning 6.8 million square feet in 70,000 units. Its properties are in Australia, China, Japan, Malaysia, Singapore and South Korea.

Source: PR Newswire, StorHub Group Names Raju Ruparelia as CEO to Lead its Next Chapter of Growth