Business News
New owners aim to guide NEC Group through next phase of expansion plans
specific aspects of the installation. Alongside the recent investment of more than £4m in 185 high- spec digital displays across the site, the project will make the NEC Campus an even more dynamic and engaging environment for all customers. Kathryn added: “This project is
a solid example of how we take on board feedback from our
visitors, exhibitors and organisers to find out what can make their customer experience even better. “The improved NEC look will
bring a new dimension to our organisers’ shows as their visitors will feel they are not just arriving at a venue, but an event. “As the NEC campus continues
to grow and thrive, this investment is an integral part of our wider masterplan that we’ll develop over the coming years.”
Private Equity Funds managed by Blackstone, a leading live events venue operator in the UK, announced the acquisition of the NEC Group last month from LDC, the private equity arm of Lloyds Banking Group. Founded in 1976, the NEC has
grown into the UK’s live events business of choice for organisers, exhibitors and visitors, playing host to more than seven million guests and 750 events every year. The NEC has Birmingham’s
National Exhibition Centre, the International Convention Centre, the Genting Arena and Arena Birmingham among its assets as well as caterer Amadeus and national ticketing agency The Ticket Factory. The NEC hosts many of the
largest exhibitions in the UK, including international dog show Crufts; Spring Fair, the UK’s largest exhibition; and Grand Designs Live. Many other renowned events
The Bear Grylls Adventure is the site’s permanent attraction
take place within NEC venues and it has partnered with Merlin Entertainments to open their first Bear Grylls Adventure visitor attraction and a LEGOLAND Discovery Centre. The NEC is also due to host nine sports as part of the 2022 Commonwealth Games. In addition, the group has launched businesses that aim to take its expertise further afield: NEC Group International offers venue management consultancy services; MemoryHaus develops event content and Eight Feet Tall, a specialist sponsorship and media sales consultancy for the live events industry. The NEC won its first major
international award in 2017 – the UFI Operations and Services Award – in addition to Exhibition News Venue of the Year and two AEO Awards for Best Venue Team and Innovation. LDC originally backed a management buyout of the Group in January, 2015. Since then, it has supported a four-year transformation programme to enhance sites, facilities and customer experience and broaden the range of events across the Group’s portfolio, supported by significant capital investment. Paul Thandi, chief executive of
Updated: A £4.5 refurbishment has lit up the campus
the NEC Group, said: “Blackstone’s track record in scaling companies,
Growth strategy: Paul Thandi
‘Blackstone’s track record in scaling companies, sector knowledge and unrivalled real estate capabilities, make them the ideal new partner for NEC Group’
sector knowledge and unrivalled real estate capabilities, make them the ideal new partner for NEC Group to realise the next phase of our ambitious growth strategy. “All of our teams and partners
look forward to working closely with the world-class team as we embark on becoming the definitive name in events and exhibitions, while continuing to focus on innovations and new customer experience offerings for all our customer groups.” Lionel Assant, European head of
private equity at Blackstone, added: “Under the leadership of Paul Thandi, a best in class management team and the support of LDC, the NEC has transformed its main site into a leading leisure, entertainment and business destination, which continues to benefit from a diverse customer base. “We have tremendous respect
for what has been achieved; NEC Group is iconic and we are excited about our new partnership as we look to leverage our firm’s capabilities in support of the team.” Blackstone was advised by
Moelis. LDC was advised by Bank of America Merrill Lynch.
November 2018 CHAMBERLINK7
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