Intermediate Capital : ICG’s Sale & Leaseback strategy agrees acquisition of open storage & logistics asset in Corby, UK

ICG's Sale & Leaseback strategy agrees acquisition of open storage & logistics asset in Corby, UK

12 October 2021

Intermediate Capital Group (ICG) is pleased to announce that it has acquired a 69 acre mission critical open storage & logistics site from Rockingham Automotive LLP in Corby, by way of a 25 year lease to STVA UK Limited.

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STVA UK Limited is a subsidiary of Group CAT, a leading independent operator in transport and vehicle logistics. STVA has this year relocated to the purpose built site, as they continue to grow their compound management and services business. The site ensures the business is positioned to take advantage of changing habits and regulatory developments and is fully equipped to support the anticipated rollout of electric cars.

[Link]Chad Brown, Investment Director of Sale & Leaseback at ICG said:

"This is an attractive deal for ICG, supported by growing demand for limited open storage capacity. We look forward to working with STVA UK, as they continue to evolve their model.

"We continue to actively seek opportunities and are targeting mission critical assets across continental Europe and the UK. We have circa €1bn to invest and will look at all sectors and opportunities, where the importance of the asset to the tenant is evident."

M1 brokered the transaction and advised Rockingham Automotive LLP. ICG was advised by JLL.

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For further information please contact:

Olivia Montgomery

Associate Director

Corporate Communications

Tel: [phone]

Mobile: [phone]

Email: [e-mail]

About ICG

ICG provides capital to help companies grow. We are a global alternative asset manager with over 30 years' history, managing €65.2bn of assets in private debt, credit, and equity, principally in closed-end funds.

We develop long-term relationships with our business partners to deliver value for shareholders, clients, and employees, and use our position of influence to benefit the environment and society. We operate across four strategic asset classes: corporate, capital market, real asset, and secondary investments. In addition to growing existing strategies, we innovate and pioneer new strategies where the market opportunity exists.

ICG is listed on the London Stock Exchange (ticker symbol: ICP).

Further details are available at:www.icgam.com.You can follow ICG on LinkedIn and Twitter.