LDC ties up multi-million pound deal for NEC Group

A private equity group has completed its purchase of a major conference and exhibition centre.

As first reported in CN last July, LDC, the private equity arm of Lloyds Banking Group is the buyer of The NEC in Birmingham.

The deal with Birmingham Cirty Council values the business at around £307m and LDC will work alongside the NEC’s management team to deliver
further strategic organic and acquisition-led initiatives across all business
channels, both in the UK and overseas.

Martin Draper, LDC’s chief executive officer said: “The NEC Group
is an outstanding business with excellent growth prospects. We are looking
forward to supporting the management team in its next phase of development and unlocking
further opportunities across the business.”

Paul Thandi, chief executive of the NEC Group said: “We are at
the start of a dynamic and different period for the NEC Group, with our
management and staff motivated to realise our ambitions and accelerate our
growth strategy under new ownership alongside LDC. Being part of the private
sector now enables us to capitalise on our market-leading positions in venue
management, ticketing and catering with a greater emphasis on speed and capital
investment where required or prompted by acquisition. These opportunities can
enhance the future of the business, ensuring the group remains a cornerstone of
the region’s economic prospects.”
 

Do you have a story for CN? Email: John Keenan

Paul Colston

Author

Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

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