St Modwen Logistics has combined with another sector specialist to create a new industrial and logistics warehousing company serving thousands of customers UK-wide.
Indurent has been formed after St Modwen Logistics joined with Industrials REIT in a bid to complement strengths and tap an undersupply of industrial and logistics space in key locations across the nation.
The new operation has a portfolio comprising more than 27 million sq ft of industrial and logistics space, ranging from urban light industrial units to developments utilised for national distribution, production or manufacturing.
This includes a number of sites across Stoke-on-Trent and the rest of Staffordshire.
The new company will serve a diverse customer base of more than 2,000 businesses.
It combines St. Modwen Logistics’ expertise in large-scale, strategically located logistics properties with Industrials REIT’s experience in managing multi-let industrial estates.
The newly integrated business, which is owned by investment funds managed by Blackstone is led by Chief Executive Julian Carey.
He said: “This is an incredibly exciting milestone which brings together a market-leading customer focused operating platform and proven development capability to create Indurent, a fully integrated industrial and logistics company that can support our customers at all stages of their lifecycle.
“An undersupply of industrial and logistics space in key locations means we have an exciting opportunity to establish a truly national platform that will help businesses access the space they need.
“With Blackstone’s support, we are well placed to deploy capital where we see attractive acquisition opportunities and deliver on our ambitious development pipeline.”
St. Modwen Logistics was a division of St. Modwen Properties, a property development and investment company founded in 1966 in Staffordshire.
Over the years, St. Modwen has built a legacy of transforming brownfield sites and regenerating underutilised spaces across the UK.
St. Modwen Logistics was created to focus specifically on the growing demand for high-quality logistics and industrial spaces. It grew to include customers ranging from Ocado, Tesla and Amazon.
Since acquiring St. Modwen and Industrials REIT in 2021 and 2023 respectively, Blackstone has invested well over £2bn in the logistics businesses.
