LDC backs FC Business Intelligence MBO

Kenny Wastell
29 August 2018

Tweet
Facebook
LinkedIn
Google plus
Send to

LDC has backed the management buyout of UK-headquartered events company FC Business Intelligence (FCBI).

Financial details of the transaction remain undisclosed, though a report earlier this year by the Times stated the vendors were looking for an £80m valuation for the company.

FCBI will pursue an international growth strategy, with a particular focus on the Asian market. It will also look to make UK and international bolt-on acquisitions.

As part of the deal, the GP has appointed Lucid Group and Shoosmiths non-executive chairperson Tim Trotter to the same position at FCBI, and former Emap and Informa CEO David Gilbertson as non-executive director. LDC investment directors David Andrews and Rob Schofield will also take seats on the company's board of directors.

Muzinich and HSBC provided banking facilities to support the transaction. The deal will see FCBI's founders exit the business.

Company
Founded in 1990, London-headquartered FCBI organises conferences and exhibitions for a broad range of industries including energy, insurance, pharmaceuticals and travel. The business has a headcount of 130 and generates a turnover of £30m, according to a statement, of which 65% is accounted for by US sales, 20% by continental European sales and 10% by UK sales.

People
LDC – David Andrews, Rob Schofield (investment directors); Alex Wilby (investment manager).
FC Business Intelligence – Piers Latimer (CEO).

Advisers
Equity – Houlihan Lokey (corporate finance); Plural Strategy Group (commercial due diligence); Eversheds Sutherland (legal); BDO (financial due diligence).
Company – Jegi Clarity (corporate finance); CMS (legal).