Slättö and Budbee enters strategic partnership to enable a Nordic roll out of green last mile logistics terminals
Slättö, a leading manager of alternative investment funds, has through its logistics and warehouse platform Evolv entered into a strategic partnership with Budbee, a provider of cutting edge logistics service for e-commerce. The parties form a joint venture to build new, green last mile logistics terminals supporting Budbee’s expansion within sustainable and efficient deliveries.
The two companies form a JV (75 % owned by Evolv and 25 % owned by Budbee) that will finance, develop, own, and manage terminal buildings in strategic locations. The terminals will be tailored for last mile logistics and have large, roof-top solar panels installed, reducing the carbon footprint. Each terminal will have approx. 400 employees. Copenhagen and Helsinki are potential locations for establishment, as well as other strategic European logistic hubs.
The JV today announces the acquisition of three building rights: one in Härryda outside Gothenburg, one in Almnäs in Södertälje and one in Vaggeryd outside Jönköping. Planned lettable area for the premises in total is approx. 18,000 sqm and construction on all three sites are projected to start in Q4 2021. In addition, the JV has acquired an existing terminal in Västerås. Budbee is expected to move in during the second half of 2022. These developments, corresponding to an investment of around SEK 300m, mark the launch of the JV’s rollout ambition with a total capacity of SEK 2bn.
This is not the first time the companies cooperate. In 2019, Slättö began development of the property Örnäs 1:24 in Brunna, Upplands Bro, a site that Budbee rents on a 10-year lease since 2020. The building has a green profile as it is constructed with solar panels with a capacity to generate more than 230,000 kW per year which can provide power to the building as well as electric delivery cars. Slättö and Evolv has per September 1st divested the property.
– We look forward to strengthening our partnership with Budbee. This is a cooperation well in line with our strategy and mandate, as logistics is a segment with strong structural growth that is prioritised by our funds. Through Evolv, we have extensive experience from development of top quality, modern, and energy efficient logistics properties. It is important for us to take lead towards innovative and sustainable construction, and the development of Budbee’s logistics capacity is a step in that direction, says Johan Karlsson, founder and CEO of Slättö.
– This move gives us the opportunity to continue to expand our operations in a cost-efficient and sustainable way. We collaborated well with the team at Slättö and Evolv in the design and development of our state-of-the-art terminal in Brunna, and we look forward to future initiatives in the same spirit. Together, we will make it possible for more people to enjoy a faster and more sustainable e-commerce experience, says Fredrik Hamilton, founder and CEO of Budbee.
Slättö is a partner-owned manager of alternative investment funds with a focus on Nordic real estate.
About Evolv Property
Evolv is a fast-growing real estate company developing and managing commercial properties with a focus on warehouse and logistics. The company today manages a portfolio of around 40 properties.
Founded in 2015, Budbee is a Sweden-based tech company aiming to create the best e-commerce experience from check-out to delivery. Charged with a self-learning system and bespoke algorithm, Budbee reaches more than 30 million people in Sweden, Finland, Denmark, Belgium, and the Netherlands – either through parcel lockers or home deliveries. So far Budbee has served more than 3 million unique customers with same or next day deliveries using bikes, electrical vehicles, and biofuels. Budbee’s services are used by hundreds of large e-commerce companies, including ASOS, Zalando, Inditex and H&M.
For further information, please contact:
Johan Karlsson, CEO Slättö
Tel: +46 703 63 55 09
Ann Sonne, VP of Communication Budbee AB
Tel: +46 8 122 503 40