Projects Med & Mouse
SEGRO European Logistics Partnership S.à.r.l. (SELP) was created in June 2013 by SEGRO Plc (SEGRO) and a joint venture partner to provide a leading logistics property joint venture in Continental Europe.
Project Med was the name given to the due diligence activities associated with the creation of SELP and involved the assessment of 32 assets across France, Belgium, Germany, Poland, Czech Republic & Netherlands, which SEGRO contributed to the JV partnership. The objective of the works was to provide comfort and surety for the JV partner on investment risks associated with the creation of the SELP portfolio.
Project Mouse was the first substantial acquisition of further assets by SELP and comprised 14 further modern logistics assets. These assets, located across Germany, Poland and France, were acquired from two funds, one managed by Tristan Capital Partners (CCPIII) and the other co-managed by Tristan Capital Partners and AEW Europe (EPISO).
The projects were completed over an 18 month period between September 2012 and March 2014.
Inogen Alliance provided services initially to SEGRO and subsequently SELP to address environmental risks and liabilities associated with the assets included in the SELP Portfolio. Services were delivered directly by Associates, who provided in-country expertise to gather data, regulatory authority liaison services, and delivered intrusive investigations and specialist site audits.
Throughout the due diligence process the Client understood the investment risks posed by environmental issues and could revise their commercial position accordingly. With the appropriate level of technical due diligence, combined with practical commercial consultancy advice, environmental risks were managed throughout the process and were not allowed to become a significant material consideration in the investment process, therefore allowing a suitable capital expenditure figure to be allocated to deal with statutory risks and liabilities.
A clearly defined Portfolio Management Plan prioritised post-acquisition tenant and site management activities. This allowed appropriate operational expenditure budgets to be developed and allocated to asset managers, with clear information audit trails to demonstrate compliance and mitigate the risk of future due diligence issues and asset devaluation.
“Delta-Simons are a key part of our delivery team and their advice is invaluable to our business decision making process. Their blend of technical knowhow and commercial sense, together with their attention to our needs has created a strong working relationship that goes back over many years. The value of the Inogen Alliance to our European operations is also huge. Delivery of services in multiple countries by respected in-country consultants, with the whole thing managed by and through Delta-Simons who interpret the issues in their tried and tested manner provides a strong business offering that is impossible to ignore.”
SEGRO European Logistics Partnership S.à.r.l. (SELP) is a 50:50 JV between SEGRO plc and their joint venture partner. SEGRO is a leading owner, asset manager and developer of modern warehousing, light industrial and data centre properties, with the joint venture partner being one of Canada’s largest pension investment managers.
SELP intends to grow the portfolio to at least €2 billion through developments and acquisitions over the coming years.
With increased globalization comes increased business risk, and sometimes acquisitions, mergers and divestments require a more sophisticated approach to risk management and assessment. Inogen Alliance has developed unique expertise around liability transfer and asset exit strategies through risk modeling and the application of environmental insurance products. At the same time, Inogen Alliance delivers efficient and consistent environment, health and safety due diligence services that facilitate informed business decisions, and help you to avoid uncertainty by identifying, assessing and prioritizing your business risk, allowing you to monitor and control potential negative impacts as well as capitalize on potential opportunities.
Operational integrity and global regulatory compliance are demanding challenges in today's ever-evolving business environment. Inogen Alliance provides a full range of environmental compliance services, audits and assessments that aim to move beyond conformity to identify opportunities that further reduce risk and improve EHS performance, define critical issues, facilitate planning, develop advocacy strategies and define process improvements that facilitate compliance and minimize risk exposure.
The management of environmental impacts and risks affects the reputation, financial performance and competitive advantage of the companies. Inogen Alliance delivers clear, concise portfolio of Environmental Assessments and liability management strategies that provide the key information to manage environmental impacts, drive stakeholder acceptance, accelerate site closure and define balance sheet liabilities.