LDC, a private equity arm of Lloyds Banking Group, has acquired London-based FC Business Intelligence, a B2B events and information business. No financial terms were disclosed. JEGI/Clarity advised FCBI on the transaction.
New York, NY, August 28, 2018 – FC Business Intelligence (FCBI), a leading B2B events and information business, has been sold to LDC. The value of the transaction is undisclosed.
JEGI | CLARITY (www.jegiclarity.com), the leading independent investment bank for the global media, information, marketing, software and tech-enabled services sectors, headquartered in New York, NY, represented FCBI in this transaction.
FCBI delivers conference and exhibition events with a focus on providing thought leadership in a diverse range of sectors that are facing both challenges and opportunities from technological and strategic innovation including the energy, insurance, pharmaceuticals transportation and travel sectors. Its offering is designed to help senior business professionals stay at the forefront of change through insight sharing and networking with peers.
The investment will enable FCBI to target further organic growth as it plans to increase the scale of its events and expand into new markets, including Asia. The business will also look to make a number of acquisitions both at home and overseas.
With 130 employees based at its head office in Shoreditch, FCBI operates globally with 65 per cent of the company’s annual turnover of £30m generated in the US, 20 per cent in continental Europe and 10 per cent in the UK.
LDC is backing FCBI’s existing management team, led by Chief Executive Officer Piers Latimer. The investment marks an exit for its original founders.
The deal was led by investment director David Andrews and investment manager Alex Wilby. David Andrews and Rob Schofield will join the board of the business with Tim Trotter joining as Non-Executive Chairman, bringing significant experience of growing PE-backed people businesses internationally. David Gilbertson, former CEO of EMAP and Informa, also joins as a Non-Executive Director, bringing a wealth of industry experience.
Piers Latimer, Chief Executive Officer of FCBI, said: “We have established a worldwide reputation for developing high-quality strategic events that deliver the insights business leaders need to direct their companies and shape their markets. With demand for our services only set to increase, we’re in a great position to accelerate growth. Bringing on board an experienced and well-connected investment partner in LDC felt right at this juncture and we’re excited to be moving forward with their support”.
David Andrews, investment director at LDC in London, added: “Piers and his management team have overseen a remarkable period of growth for FCBI thanks to their focus on content-rich, delegate-led events that deliver real value to more than 9,000 attendees and 1,400 sponsors and exhibitors each year. The opportunity now is for the management team to strengthen and extend this growth and we’re looking forward to supporting them on this journey.”
As a conference and business intelligence company, FC Business Intelligence (FCBI) helps leading global corporations define future strategy and direction, develop growth opportunities and solve problems facing their sectors through industry leading content provided in person and online. Founded in 1990, FCBI has pioneered a business model based on the development of industry-specific conferences, community-driven websites, newsletters and intelligence reports. Although events remain at the core of this model – proving a basic truth that there is no substitute for getting senior business people together to meet and share experiences – intelligence publications are gaining in importance within FCBI. For more information, visit www.fc-bi.com.
LDC is the private equity arm of Lloyds Banking Group. It is the most active mid-market private equity investor, having completed over 25% more buyouts and expansion deals than any other player in the last ten years. LDC supports management teams from all sectors and in every corner of the UK from its regional network of nine offices. Founded in 1981, LDC has a 35 year track record of success and has invested almost £5billion in more than 600 companies. For more information, visit www.ldc.co.uk.