Jamieson is delighted to announce that it has advised the management team of NEC Group on its acquisition by Blackstone from the private equity arm of Lloyds Banking Group, LDC.
Birmingham-based NEC Group is formed of the NEC, Resorts World Arena, ICC Birmingham and Arena Birmingham. In addition, it operates caterer Amadeus and national ticket agency The Ticket Factory. LDC originally backed an MBO from Birmingham City Council in 2015 and has supported a successful four-year transformation programme alongside significant capital investment. The deal follows Blackstone’s acquisition of Clarion Events (UK-based international events & exhibitions group) last year and is expected to play to their strengths in the real estate sector.
NEC Group CEO, Paul Thandi, commented: “In the blur that can be the last few weeks of a transaction these days, Jamieson were exemplary. Beside me every step whether I wanted a call or an email early or late and at weekends nothing was an issue for Tom and the team. Their work was accurate, helpful and supportive exactly what any CEO or management team want and need in any transaction.“
The Jamieson team of Tom Burton, Ross Wheeler and Pippa Knowles advised CEO Paul Thandi, COO John Hornby, and the rest of the team during a competitive process on the terms of the transaction and the management incentive arrangements proposed by their new owner.