Portfolio News

LDC-backed NEC Group scoops Business of the Year

LDC-backed the NEC Group was crowned Large Business of the Year at the West Midlands Business Masters Awards in Birmingham. 

The event, which recognises the organisations that have made a significant contribution to the Midlands economy and celebrates business talent in the region, also saw CEO Paul Thandi pick up Ambassador of the Year. 

Paul Thandi said: “We’ve made huge progress in recent years and winning awards such as these is recognition of those efforts.

“Our driver for external investment was to realise our business plan and beyond.  Deliverability and pace are essential for us in responding to market opportunities, and bringing on board an external investor with the experience and breadth of LDC has brought a renewed energy and confidence to our teams and business, which has been essential in our progress and our success.  

“We now have a clear strategy focused on data, customer experience and optimisation. We’re transforming our regional and national offer through a focused business and leisure destination strategy to give our visitors more compelling reasons to visit, and we’re extending our footprint through consultancy, management and operational expertise internationally.”

The NEC Group is one of the world’s top venue management companies, operating the National Exhibition Centre (NEC), International Convention Centre (ICC), Genting Arena, Barclaycard Arena and the Vox Conference Centre. It also manages a range of support services including national ticketing agency The Ticket Factory and caterer Amadeus. 

LDC acquired the NEC Group from Birmingham City Council in a deal that valued the business at more than £300m in May 2015. It brought the Group into private ownership for the first time and helped the business increase its turnover by 17 per cent only one year into the partnership. 

The award follows the NEC Group being named Large Management Team of the Year at the BVCA Management Team Awards in May 2017.

Article Footnotes

Notes to Editors

  1. LDC is part of the Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority
  2. LDC back ambitious management teams from UK-based companies seeking between £2m and £100m of equity for management buy-outs, institutional buy-outs or development capital transactions.
  3. LDC invests in a broad range of sectors and has particular experience in Construction & Property, Financial Services, Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure and Support Services.
  4. LDC has a UK regional network of 9 offices.