City sources have told CN that a British private equity name could be on a three-name shortlist of bidders for Birmingham’s National Exhibition Centre (NEC).
As CN reported earlier in the week, the NEC is believed to be receiving serious interest from private equity companies.
As well as the usual US private equity suspects, including Providence Equity Partners (a company that was put in the frame by Sky News a few days ago), CN has been told that LDC (Lloyds Development Capital), a company with strong roots in Birmingham, could also be on the bidders shortlist.
Contacted by CN, LDC Marketing Director Rob Pendleton said he was unable to comment one way or another and said it was company policy never to comment on ‘market speculation’.
If true, the news would herald the return of British private equity to the sector, more recently dominated by US equity (examples being Starwood Capital for De Vere Venues and Bain Capital for QHotels).
For many it would be a welcome return of UK investors to the sector backing a British management team.
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