The industrial property and warehousing platform uTenant has welcomed its first external shareholder, JLL – a commercial real estate company with a global reach and a strong track record.
uTenant Managing Director and Founder, Matt Sampson, said that he was “excited to welcome JLL on board as our first external shareholder”.
Matt was especially excited to bring on JLL, a Fortune 500 company, because of the synergy of its strategic objectives and what JLL brings to the table in terms of growth potential.
“After a number of approaches from a mix of private and public investors, we decided to move forward with JLL because we felt they were best-aligned as a strategic investor to support our growth. This strategic alliance will enable us to continue to build out our proprietary technology, expediting our mission to become the world’s largest marketplace for industrial property and warehousing; helping connect product owners, logistics providers and landlords,” he said.
uTenant is a platform that connects tenants and landlords of industrial property directly for industrial property leasing, as well as assists product owners find optimal third party logistics providers and overflow solutions to match the unique requirements of users.
Stephen Conry, CEO of JLL Australia, believes the investment in uTenant is a great way of expanding JLL’s industrial and logistics services. “uTenant’s strong and innovative business model is a great match with JLL. It is a timely investment as we grow our industrial and logistics services off the back of a record year in 2020,” he said.
Both JLL and uTenant recognise the mutual advantage of uTenant remaining functionally independent. JLL now holds a minority shareholding and board seat, but both companies say it is in the best interests of uTenant that it maintain its independence and entrepreneurial dynamism. The JLL collaboration will allow uTenant to ensure its customers receive maximum visibility and have access to leading market insights and opportunities without changing the operational model that has brought them their current success.
The Co-Founder of uTenant, Kyle Rogers, is also excited about the potential of the two companies combining their unique business strengths.
“Ultimately, our growing customer base will reap the rewards as we continue to develop the ultimate matchmaking platform for tenants and landlords. While keeping transparency and confidentiality at the heart of our mission, this partnership ensures our customers are informed and educated to make the best logistics and warehousing decisions for their business,” he said.
Matt noted that the investment from JLL during the period of the COVID-19 pandemic ultimately validates its mission. “I personally could not be happier for our team, our loyal customer base, and look forward to a bright future ahead for uTenant and JLL,” he said.
Written by Edward Cranswick