Warehouse Giant Indurent Eyes Public Markets as UK Logistics M&A Heats Up
Blackstone-owned Indurent has begun preliminary meetings with real estate investors ahead of a potential London listing or sale in roughly 18 months, according to people familiar with the discussions. The UK warehouse operator, formed in February 2024 from the merger of Industrials REIT and St Modwen Logistics, could fetch approximately £6 billion ($8 billion) in a transaction. No timeline has been set for an exit, and the firm is conducting early-stage investor engagement.
Since Blackstone took control, Indurent has deployed about £2 billion in acquisitions and development projects. The platform now covers 39 million square feet and serves more than 2,200 customers, making it one of the largest warehouse owners in the UK. A Blackstone spokesperson declined to comment on the potential exit plans.
Warehouse deals across the UK have accelerated as ecommerce growth and supply chain reshoring drive demand for industrial space. Segro, the country’s largest publicly traded property company, is currently defending against a takeover bid from Prologis, while Blackstone last year invested in both Warehouse REIT and Tritax Big Box REIT. Blackstone also has Hotel Investment Partners lined up for a potential €800 million IPO in Spain this fall.
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