Industrial gurus Roger Carey and John Keogan, the ex-chairman and ex-managing director of Industrious, respectively, have joined forces with Protego to create an industrial investment company.
Guernsey domiciled Protego Industrial, is funded by a consortium of investors including RBS and the managers, providing equity and debt.
It will invest in a mixed portfolio of industrial assets.
The company will be run by a board in Guernsey chaired by Roger Carey, while John Keogan will be responsible for directing the investment programme from within Protego, where he will be supported by Protego’s investment and asset management teams.
The first acquisitions for the portfolio were acquired in December 2005.
It paid more than £20m for properties in Redditch, Leamington Spa, Leicester and Rugby.
The property management and professional work will be carried out by industrial specialist Harris Lamb.
Peter Wood, the ex-acquisitions director of Industrious has joined Harris Lamb and will liaise directly with Protego on the portfolio.
Carey has been in property since 1969. He was appointed group managing director of Slough Estates in 1992.
He subsequently became Joint Chief Executive of the Rutland Group in 1996 and left to join Industrious (formerly Saville Gordon plc) as Chief Executive in 1997.
Keogan joined Industrious in 1997 after 15 years at Slough Estates, becoming Managing Director in 2003.
He was responsible for the Group’s asset and property management, leasing and development activities.
Iain Reid, CEO at Protego, said: “Roger and John are two of the most senior industrial property experts in the UK and as it is becoming ever more difficult to find and create exceptional value in the UK property market, their expertise and vision is all the more valuable.
“We anticipate announcing further deals shortly.”
References: EGi News 24/01/06
