Deal summary

A team at Catalyst successfully advised the management team of the NEC Group on their participation in the £307 million buy-out of this internationally recognised facility. The deal, led by CEO Paul Thandi and funded by LDC and Macquarie Bank, covers all NEC Group businesses, including The National Exhibition Centre, the Genting Arena, the Barclaycard Arena (formerly the 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.

Widely regarded as an iconic British business, the NEC Group is a major contributor to the West Midlands economy, delivering an estimated economic impact to the region of more than £2 billion per annum and supporting some 29,000 jobs. The business has hosted events as diverse as G8 and European Union summits, political and industry conferences, Horse of the Year Show, Crufts and virtually all of music and comedy’s global stars.

What difference did we make?

Buying a business out of Local Authority ownership can often be a complex process and for a business of the complexity of the NEC this was no exception.  We worked closely with Paul and his senior team to help navigate them through the key elements of the terms of their investment in the business going forward, ensuring that they achieved the most favourable investment terms in the business in a tax efficient manner.

In addition, we provided input into some elements of the banking facilities as well as leading workshops with the senior management team on the key elements of their own participation in the transaction and the raising of finance to fund their personal investment.

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