Blackstone is set to merge Industrials and St Modwen Logistics, after taking both businesses private in recent years.
The combined entity, which will be called Indurent, will own more than 200 logistics and industrial properties totalling around 26m sq ft.
As part of the move, Industrials will take on the management of St Modwen Logistics’ portfolio, plus assets acquired through 25 other deals.
The merged leadership team will be led by Industrials chief Julian Carey and consist of:
- Industrials head of investment Will Lutton;
- Industrials head of asset management Simon Ross;
- Industrials head of debt and sustainability James Wakelin;
- Industrials group sales, marketing and customer director John Whitley;
- Industrials head of financial operations Michael Handley;
- Industrials general counsel Sarah Bellilchi;
- Industrials head of technology and data James Snowdon;
- Industrials chief financial officer Tom Olsen;
- St Modwen Logistics head of transactions James Cooper;
- St Modwen Logistics head of portfolio Gordon Kellie;
- St Modwen Logistics head of development Lee Nash.
Carey said in a social media post: “The UK’s industrial and logistics market continues to unveil attractive opportunities, and with an enlarged organisation, we are well-positioned to navigate the challenges and capitalise on the opportunities that lie ahead. Our commitment to excellence, innovation and growth will be the driving force behind our success.”
Blackstone took over St Modwen in 2021 and Industrials REIT in 2023.
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