LDC takes minority stake in RIBA commercial arm NBS

The investor injected £31.8m for a "significant" minority stake in the deal, it said in a statement.

RIBA and LDC will be jointly supporting the business, led by current CEO Richard Waterhouse and the existing management team.

RIBA said in a statement that LDC had been selected to back the business based on their track record, including its experience working in the technology sector.

Company
RIBA Enterprises (trading as NBS) is the commercial arm of architects' trade body RIBA. It is a provider of technology, content and data services to professionals in the architectural, engineering and construction industries. Headquartered in Newcastle, NBS employs 200 people and recorded a turnover of £20.5m in 2017

People
LDC – John Garner, Dan Smith, Dale Alderson.

Advisers
Equity – Deloitte (corporate finance); Addleshaw Goddard (legal).
Vendor – KPMG (corporate finance); Womble Bond Dickinson (legal).
Company – PwC (corporate finance).

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