Blackstone has acquired TT Group’s 50% stake in the Arch Company.
The private equity firm and TT Group – formerly Telereal Trillium – purchased the business from Network Rail in 2019 for £1.46bn.
The Arch Company owns more than 5,000 railway arch rental sites across England and Wales and its portfolio is worth circa £2bn.
Graham Edwards, executive chairman at TT Group, said: “We are proud of the business that we have helped to build with our partner Blackstone, firstly as managers of the business for four years and then jointly with Blackstone overseeing the independent management team. In 2019, the Arch Company was recognised as the property ‘deal of the year’. At the time we promised that we would invest in the arches portfolio to create more industrial space in inner cities, that we would support the largely SME tenant base, and that we would work with Network Rail to support the smooth running of the railways.”
He added: “We leave behind a strong and well-led business. We believe that the history of the Arch Company since 2019 is a great example of how the injection of private sector capital and capability can revitalise a public sector asset, to the benefit of all stakeholders. This latest transaction represents a significant inward investment into the UK. We have greatly enjoyed our JV partnership with Blackstone and wish them continued success in their stewardship of this important group of national assets. This transaction releases capital and management time for TT Group for investment opportunities that are being explored in 2025.”
