M&A Deal Summary

Lloyds TSB Development Capital Acquires NEC

On January 16, 2015, private equity firm Lloyds TSB Development Capital acquired media company NEC from Birmingham City Council for 307M GBP

Acquisition Highlights
  • This is Lloyds TSB Development Capital’s 10th transaction in the Media sector.
  • This is Lloyds TSB Development Capital’s largest (disclosed) transaction.
  • This is Lloyds TSB Development Capital’s 154th transaction in the United Kingdom.
Investment Fate
  • NEC was sold to a consortium of financial buyers in 2018.

M&A Deal Summary

Date 2015-01-16
Target NEC
Sector Media
Buyer(s) Lloyds TSB Development Capital
Sellers(s) Birmingham City Council
Deal Type Divestiture
Deal Value 307M GBP

Target

NEC

Birmingham, United Kingdom
website
NEC is a live entertainment business operating exhibitions, conferences, music, sports, family entertainment and hospitality. NEC Group was founded in 1976 and is based in Birmingham, United Kingdom.

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Buyer(S) 1

Buyer

Lloyds TSB Development Capital

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 2.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Lloyds TSB Development Capital Ltd (LDC) is the private equity arm of Lloyds Banking Group Plc and invests in mid-market companies throughout the UK. LDC seeks high growth businesses with at least two years of profitability (greater than £1 million). The Firm looks to commit £2 to £100 million in companies generating at least £5 million in revenue. Areas of interest include cleantech/environmental, construction/property, financial services, healthcare, industrials, retail/consumer, support services, TMT and travel/leisure. Prospective transaction types includes acquisition financings, development capital, equity release, MBOs, MBIs, mergers, private placements, and secondary buy-outs. Lloyds TSB Development Capital Ltd was formed in 1981 and is based in London.


DEAL STATS #
Overall 164 of 288
Sector (Media) 10 of 14
Type (Divestiture) 15 of 24
Country (United Kingdom) 154 of 276
Year (2015) 1 of 12
Size (of disclosed) 1 of 69
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Coppice

Mid Glamorgan, United Kingdom

Coppice is an international supplier of aluminium foil packaging to the food manufacturing processing and baking industries as well as the wholesale, institutional catering and non-food markets. Coppice was founded in 1972 and is based in Mid Glamorgan, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-23 Aspen Pumps

East Sussex, United Kingdom

Aspen Pumps engages in the design, manufacture, and distribution of mini pumps that remove condensate water from air conditioning and refrigeration systems. Aspen Pumps also sells a range of ancillary products for air conditioning installers and engineers. Aspen Pumps was founded in 1992 and is based in East Sussex, United Kingdom.

Sell £105M

Seller(S) 1

SELLER

Birmingham City Council

Birmingham, United Kingdom

website


Category Company
Sector Consumer Services
DESCRIPTION


DEAL STATS #
Overall 1 of 1
Sector (Media) 1 of 1
Type (Divestiture) 1 of 1
Country (United Kingdom) 1 of 1
Year (2015) 1 of 1
Size (of disclosed) 1 of 1