In June 2019, FTSE 250 listed LondonMetric Property Plc acquired Midlands based A&J Mucklow Plc for consideration of £415m in a combination cash and shares.
The combined group is set to become one of the UK's leading listed logistics and distribution platforms and will hold property assets worth £2.3bn.
The transaction gives LondonMetric access to a substantial portfolio of distribution and industrial assets with the combination accelerating LondonMetric’s urban logistics exposure where rental growth is superior.
BDO supported LondonMetric as Reporting Accountant on the class 1 process.
“We have had a great experience working with BDO. They were extremely flexible, worked closely with our other advisors, and were always on hand to offer support when we needed them over the course of the transaction. Their pragmatic and efficient approach enabled tight timetables to be met and the reports produced were of high quality. We significantly benefitted from their expertise both the Real Estate and capital market sectors.”
Martin McGann, Finance Director, LondonMetric Property Plc
“We have enjoyed a lengthy relationship with LondonMetric over the years and thoroughly enjoyed working with the team again on this transaction. The deal is an incredibly positive one in today’s climate and marks another significant step in LMPs growth strategy”
Ian Cooper, Partner, BDO