These venues include the National Exhibition Centre itself, the Genting Arena, the Barclaycard Arena (formerly the National Indoor Arena) and the International Convention Centre, as well as the NEC’s other commercial activities including The Ticket Factory, specialist catering business, Amadeus and the NEC’s third party venue management operations.
The NEC Group comprises the UK’s leading live exhibition, arena and conference venues.
On 16 January 2015, LDC entered into a binding agreement to acquire The National Exhibition Centre Group (NEC) in a transaction which values the business at around £307million.
The transaction transfers the NEC into private ownership for the first time and allows the business to more easily realise available growth opportunities.
As part of the transaction, LDC will also acquire Birmingham City Council’s interest in Genting Resorts World at the NEC site.
LDC will be working alongside the NEC’s current management team, led by Chief Executive Paul Thandi, to deliver further strategic organic and acquisition-led initiatives across all business channels, both in the UK and overseas.
On 30 April 2015, LDC announced that it had completed the acquisition of the NEC Group from Birmingham City Council.
NEC's purchase by LDC won 'Deal of the Year' at the Midlands Insider Dealmakers Awards 2015. This deal was widely praised not only for its scale and complexity, but for the impact it will have on the NEC itself and wider Midlands economy.
We wanted to change our business and realise our business plan. We wanted investment to build new businesses, organically grow our business, invest in our teams and complete some acquisitions to grow our portfolio. We had a choice of a few people to go with, and what I liked the most about LDC was their approach. First and foremost, it wasn’t the business, it was the management team that they were interested in. With this management team and the right backer in LDC there is no reason why we cannot grow our business exponentially in the next three to five years. Paul Thandi, Chief Executive, The NEC Group