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Blackstone acquires live events specialist NEC Group
POSTED 19 Oct 2018 . BY Tom Walker
Private equity giant Blackstone has acquired UK-based live events venue operator National Exhibition Centre Group from LDC, the private equity arm of Lloyds Banking Group.

The deal, believed to be worth around £810m, will see Blackstone take control of the National Exhibition Centre (NEC) in Birmingham, as well as the International Convention Centre, the Genting Arena and Arena Birmingham – as well as caterer Amadeus and national ticketing agency The Ticket Factory.

NEC hosts many of the largest exhibitions in the UK and recently partnered with Merlin Entertainments to open the first Bear Grylls Adventure visitor attraction and a LEGOLAND Discovery Centre on the company’s sites.

The NEC is also due to host nine sports as part of the 2022 Commonwealth Games.

“Blackstone’s track record in scaling companies, sector knowledge and real estate capabilities, make them the ideal new partner for NEC Group to realise the next phase of our ambitious growth strategy," said Paul Thandi, Chief Executive of the NEC Group.

Lionel Assant, European head of private equity at Blackstone, added: “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.”
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NEWS
Blackstone acquires live events specialist NEC Group
POSTED 19 Oct 2018 . BY Tom Walker
Private equity giant Blackstone has acquired UK-based live events venue operator National Exhibition Centre Group from LDC, the private equity arm of Lloyds Banking Group.

The deal, believed to be worth around £810m, will see Blackstone take control of the National Exhibition Centre (NEC) in Birmingham, as well as the International Convention Centre, the Genting Arena and Arena Birmingham – as well as caterer Amadeus and national ticketing agency The Ticket Factory.

NEC hosts many of the largest exhibitions in the UK and recently partnered with Merlin Entertainments to open the first Bear Grylls Adventure visitor attraction and a LEGOLAND Discovery Centre on the company’s sites.

The NEC is also due to host nine sports as part of the 2022 Commonwealth Games.

“Blackstone’s track record in scaling companies, sector knowledge and real estate capabilities, make them the ideal new partner for NEC Group to realise the next phase of our ambitious growth strategy," said Paul Thandi, Chief Executive of the NEC Group.

Lionel Assant, European head of private equity at Blackstone, added: “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.”
RELATED STORIES
Blackstone buys Chicago's Willis Tower for US$1.3bn – will invest US$150m in leisure elements


Blackstone has announced it will buy Chicago’s Willis Tower, the second-tallest building in the US for US$1.3bn (€1.19bn, £800m).
Birmingham NEC put up for sale


The NEC Group, which operates and owns the National Exhibition Centre (NEC), is to be sold by Birmingham City Council (BCC).
NEC Group's annual performance 'marginally ahead' of expectations


NEC Group has reported financial results "marginally ahead" of expectations for the year ending 31 March 2012 amid difficult conditions for its exhibition and live events venues.
NEC Group plans move into European market


The NEC Group has announced it is looking to further expand its international operations with the development of new opportunities within the European arena and stadium market.
MORE NEWS
Kengo Kuma's wood market-inspired museum on track for summer opening
The Kengo Kuma-designed Odunpazarı Modern Museum (OMM) is slated to launch in Eskisehir, Turkey – the former "Turkic World" capital of culture – in June.
The Aon Center's new observatory will offer rare views of Chicago
The Hettema Group and architecture practice Solomon Cordwell Buenz (SCB) have been tapped to create a sky deck and visitor attraction at the Aon Center in Chicago, IL.
SeaWorld COO leaving company after 34 years
Following the conclusion of SeaWorld's search for a CEO, its chief operating officer, John Reilly, has announced he will be leaving the company at the end of this month following a 34-year tenure.
An undersea adventure: Snøhetta’s 'Under' welcomes its first diners
Under – an underwater restaurant and research facility that evokes the romance and wonder of Captain Nemo's Nautilus – has opened in Lindesnes, Norway.
+ More news   
LATEST JOBS
Human Resource Manager
Eureka
Salary: Circa £32,000 per annum
Job location: Halifax, UK
Assistant Director Visitor and Site Operations
Eureka
Salary: Circa £42,000 per annum
Job location: Halifax, UK
Attraction Manager - Conwy
Welsh Water
Salary: £39,966 - £46,960
Job location: Conwy, UK
Attraction Manager - Powys
Welsh Water
Salary: £39,966 - £46,960
Job location: Rhayader, UK
Attraction Manager - Pontypool
Welsh Water
Salary: £39,966 - £46,960
Job location: Pontypool, UK
Visitor Experience Manager - Powys
Welsh Water
Salary: £32,392 - £37,027
Job location: Powys, UK
+ More jobs  
 


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Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2019

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
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LEISURE MEDIA PRODUCT SEARCH
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