Tue, 11 Sep 2018 | BUSINESS SALE
Roxhill Management Rugby Limited (RMRL), a Warwickshire-headquartered company, has entered an agreement to have its management platform taken over by property investment giants SEGRO.
The two businesses joined forces in a partnership back in 2016 that allowed SEGRO gradual access to its portfolio of warehouse development sites throughout the Midlands and South East areas of the UK.
The arrangement, which granted SEGRO access through option agreements, also gave the company the legal right to acquire RMRL’s management platform after a period of 30 months.
Although the terms of the acquisition are confidential, the transaction is expected to be completed by the end of the year and will pave the way for a single team located in the Midlands that will focus on the development and management of UK big box warehousing.
SEGRO’s chief executive, David Sleath, said: “By combining SEGRO’s and Roxhill’s teams, we will have the resources to deliver on our strategy to grow our big box warehouse position in the two strongest logistics regions in the UK and the expertise and network to create an on-going pipeline of schemes in the future.
“We will be even better placed to meet occupier demand for modern, well-located warehouses which are an increasingly critical component of the national infrastructure dealing with the impact of e-commerce.”
Even since the initial agreement in 2016, SEGRO commenced developing its Logistics Park East Midlands Gateway and is considering a further five sites upon announcing the acquisition.
Founders of the Roxhill management team David Keir and Jason Dalby commented: "The pipeline of land for development at SEGRO’s disposal is market leading and affords an exciting opportunity for both SEGRO and the RMRL employees alike."
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