Partnerships are pivotal to how we advance our global strategy. In 1960, Oxford was born out of a handshake between two entrepreneurs to develop a single medical office building in Edmonton. Fast forward to today and we have kept the same collaborative spirit, but now at a global scale.
Today we invest, asset manage, develop and build businesses in seven sectors, four continents, and over 20 countries. Our growth in the last decade has been fueled by finding and investing in likeminded specialists who can grow with us over the long term.
To look closer at the ingredients of a great partnership, let’s check back in on our work with M7 that launched two years ago. Our plan? To task M7’s 200+ team of on-the-ground specialists to source the right opportunities for Oxford to increase our exposure to European logistics, deploy capital at scale and build a pan-European supply chain network.
In Their Words:
Going beyond the numbers, let’s hear from M7’s Executive Chairman Richard Croft to better understand what this partnership has achieved thus far.
Q: What sparked the partnership with Oxford?
Richard Croft: I had a breakfast with the Oxford team back in October 2020 to talk about things we could do together. Somewhere during that hour’s breakfast, I had a damascene moment where it became utterly apparent to me that Oxford were going to be the best partner we could ever wish for. And I left this breakfast, which I had with M7 Executive, David Ebbrell, and we both walked out and we said, “we should be doing a lot with these people. They are funny, they're engaging, they're bright. They see the world similarly to us.” So, we shouldn't be just talking about what little things we can do together. We should be talking about what we can do together on a really big scale.
Q: Why did you say ‘yes’? What sold you on becoming part of the Oxford business?
RC: I'm going to use a soccer analogy. M7 started off in the lower leagues in what the Americans would call the minor leagues. We've been coming up in the ranks. We got into the Championship, very excited and we probably, on our own recourse, had reached the level that we could reach.
To go to the next level, we needed to partner with somebody who had the fire power, the energy to take us into the Premier League. Oxford was that organization. And I think what Oxford does for M7 is it takes us from a very good and very successful tier- two manager to a tier-one manager. And what we do for Oxford is we give them manpower and infrastructure in locations they need.
Q: Thinking back to over a year ago, where was M7 prior to joining Oxford?
RC: Because the way that we run our business, we couldn't grow much more because everything is organic. So, what it does for us, it allows scale. And also, they've got lots of interesting ideas where they need manpower to deliver their ideas. So, you've got two different idea engines. They've got the financial firepower. We've got the manpower. You put those two together. And so, to answer the question, it is literally the future. Brighter and more exciting.
Q: What is different about working alongside Oxford vs. other potential partners?
RC: They're very transparent. And when we were putting the sort of the finishing touches to our first venture together, we were able to meet for a bite of lunch. And the thing that struck me within 15 minutes of sitting down to lunch was the amount of laughter there was around the table.
I have a rule that if I don't like people, I won't work with them. It's a bit childish, I suppose. But life is way too short and there is not anybody that I've met at Oxford who doesn't fall into the “now that is somebody I'd like to spend time with,” category. So not only were good ideas being discussed, but people were being human, and being human creates better businesses. So, I think we've got good people. I can tell you, categorically Oxford has great people. I think those two things combined in the commonality of purpose are very, very exciting. And I look forward to the next four or five years together because I think extraordinary things can be achieved.
Q: What would you say today to an organization looking to grow with Oxford?
RC: I genuinely don't think that I would have entered into a relationship, the relationship that we have done with Oxford, with any other organization. For anybody who knows me, I can't think of anything more positive that I can say. I spent four or five years looking for the partnership, that we now have with Oxford and I met them. It took an hour and a half to make the decision that they were the people we were looking for. Without also coming across as incredibly sycophantic. So, I want to be careful here, but honestly, they're just a good organization whose spirit appears to me to be grounded in all of the things I think are important – around people, around responsibility, around the way they do business transparently and honestly.
The Key Milestones
March 28 2022 – Acquired seven UK big box logistics portfolio for £202.5 million
o We took a customer focus and studied market trends. We know with a booming digital economy the demands on physical infrastructure to fulfil the same-day delivery promise our customers are expecting requires agile solutions close to major cities. With this insight we acquired a majority infill ‘last mile’ assets in dominant urban centres, unlocking the ability to reach our customers faster.
October 6, 2022 - Oxford’s first investment in Spain with M7
o Over 900,000 square feet of logistics infrastructure acquired, close to transit hubs. This deal meets the high demand of our customers with a strong appetite for growth. Through M7’s on the ground expertise we were able to execute on our global strategy and bring much needed supply to Spain.
October 20 2022 – M7 and Oxford launch UK-wide electric vehicle charging network partnership enabled 2 million electric vehicles to be charged through this new established network. Along with SSE Energy Solutions we are delivering 12 EV charging bays at 20 of Oxford’s retail warehousing parks across the UK. These parks will be asset managed by M7.
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