The acquisition of Birmingham’s NEC Group by private equity firm LDC has marked the conclusion of a substantial multi-disciplinary project by leading property adviser GVA.
The NEC Group has been acquired by LDC, the investment arm of Lloyds Banking Group, from Birmingham City Council for £307 million.
While the project included input from eight of GVA’s disciplines, the three business areas most heavily involved in the transaction were the Building, Property Management and Valuation teams.
Work undertaken included the valuation of all of the Group’s premises – which includes the National Exhibition Centre, International Convention Centre, and Genting and Barclaycard Arenas – building and mechanical and electrical surveys, and property management.
The project was led by senior director Carl Potter. He said: “This is one of the most significant transactions that we’ve seen in Birmingham for some time and our team has demonstrated the strength of GVA’s multidisciplinary approach in delivering a first-class piece of work for our client.
“Birmingham City Council is a long-standing client of GVA’s and we have naturally been very pleased have played a role in the disposal of one of the Midlands’ most recognisable and important strategic assets, and supported the City in its wider objectives.”
