LDC’s £31.8 million investment in the Royal Institute of British Architects (RIBA)

Womble Bond Dickinson (WBD) has advised the Royal Institute of British Architects (RIBA) on an investment by LDC, the private equity arm of Lloyds Banking Group.

LDC is investing £31.8m for a significant minority shareholding in the RIBA’s commercial arm, RIBA Enterprises, which trades as NBS. Together the RIBA and LDC are supporting the business, led by the current CEO Richard Waterhouse and existing management team, in delivering its future product development and international growth plans.

NBS is a market-leading provider of technology, content and data services to professionals in the architectural, engineering and construction industries and last year recorded a turnover of £20.5 million.

WBD’s corporate team has been working with the RIBA (alongside KPMG) for a number of months to provide strategic advice. The WBD team worked with other advisers, the trustees and executive team at the RIBA and the management team at NBS to find a private equity partner which led to the investment by LDC.

The Corporate team at WBD was led by Partner Robert Phillips (picture); who was assisted by Associate Stacey Hall; Solicitor Oliver Rickett; and Trainee Solicitor Sandy Duncanson.

Involved fees earner: Robert Phillips – Womble Bond Dickinson; Stacey Hall – Womble Bond Dickinson; Oliver Rickett – Womble Bond Dickinson;

Law Firms: Womble Bond Dickinson;

Clients: Royal Institute of British Architects (RIBA);