Affinius Capital Acquires Full Ownership in the Mountpark Pan-European Logistics Developer/Investor.
Affinius Capital and PK2 (a Jersey-based private investment vehicle) today announced that Affinius Capital has acquired the remaining interest in the Mountpark development company. In a separate transaction, investment vehicles managed by Affinius Capital acquired Mountpark Logistics EU Sarl, the holding company owning the joint venture real estate assets. This acquisition follows a decade-long joint venture with Mountpark, a Pan-European development company founded by John Cutts, along with the related logistics investment portfolio. This strategic transition was envisioned by the parties several years ago and builds upon the established foundation of progress and performance.
Effective 25 November, Affinius Capital became the sole owner of Mountpark with plans to expand the strategy and vertical integration and continue to be a premier developer and owner of logistics assets across the defined target markets in Europe. The transaction further solidifies Affinius Capital’s position in the European logistics market and broadens its ability to continue to serve its customers and investors in both North America and Europe.
Through Mountpark, the joint venture has delivered 1.64M SQM of logistics development and has 18 sites secured for future development of more than 3.3M SQM across Europe to create high-quality, efficient spaces tailored to meet modern customer demands. The combination of Affinius and PK2 has enabled Mountpark to establish a market-leading position through the platform’s depth of expertise in land sourcing, planning, development, acquisitions, capital markets, and structuring.
With this strategic ownership consolidation, Justin Hildebrandt, head of European business for Affinius Capital, will return to lead the Mountpark business and continue parallel roles at Affinius Capital and Mountpark. Mr. Hildebrandt said, “The Mountpark business and our joint venture have been a success story built upon the experience and innovation of our larger teams and long-standing relationships in Europe and globally. I’m honoured and incredibly excited to be part of the next phase of growth where we look to expand upon our collective industry expertise and market relationships to develop solutions for our occupier customers and capitalise on emerging opportunities for our investor clients.”
As part of this transaction, John Cutts is stepping down as Chairman and leaving Mountpark to pursue private interests. In addition, current Mountpark CEO, David Buck, is returning to the US to resume his prior role as Head of Global Logistics for Affinius Capital. Mr. Cutts added, “The strategic partnership that Len O’Donnell, David Buck and I began in 2014 has given rise to a decade of success for our clients, members of our respective teams, and both firms’ stakeholders. With the ownership transition complete, I have the utmost confidence that Mountpark and its customers, people and communities will enjoy continued success under Justin’s stewardship.”
“Ten years ago, we realised that Mountpark was an experienced and talented logistics developer in Europe, and we recognised that through our alignment the company could reach an even greater potential,” said Affinius Capital CEO & Chairman Len O’Donnell. “Now, this transaction creates the next chapter and demonstrates the tremendous confidence we have in Mountpark’s principles and strategies. We share a focus on the value of relationships, and together we can facilitate continued success for our customers and investors.”
Interpath Advisory and Herbert Smith Freehills advised PK2 in the transaction.
