The
Royal Institute of British Architects (RIBA) and LDC, the private equity arm of
Lloyds Banking Group, have agreed a partnership to support the future growth of
RIBA Enterprises Ltd, the commercial arm of the RIBA which trades as NBS.
NBS is
a market-leading provider of technology, content and data services to
professionals in the architectural, engineering and construction
industries. Headquartered in Newcastle, NBS employs more than 200 people
and for the financial year ending December 2017 recorded a turnover of £20.5m.
The RIBA
is the global professional body for architects and a registered charity with
one of the largest and most diverse architectural collections in the world.
LDC is
investing £31.8m for a significant minority shareholding in 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.
Richard Waterhouse
RIBA
Chief Executive Alan Vallance said: “The RIBA is pleased to have secured a
fantastic deal on behalf of our members. It is recognition of the success of
our commercial activities to date, and the international strength of the brand
and products our team has developed. This deal provides welcome investment in
NBS and enables the Institute to focus on delivering our ambitious strategy in
support of the architecture profession in the UK and internationally. We are
delighted to be working in partnership with LDC who we selected based on their
extensive pedigree including their experience working in the technology
sector.”
RIBA
President Ben Derbyshire said: “This is an exciting moment for the RIBA and the
culmination of a huge amount of work, time and careful consideration by our
trustees, executive and expert advisors. We have created a highly attractive
market-leading business, and as an Institute prioritising support for our
members and the delivery of our wider charitable objectives, the trustees
agreed it is the right time to work in partnership with an experienced investor
to ramp up its potential. LDC’s investment provides the injection needed to
move NBS to the next level, and our members will continue to benefit from our
ongoing involvement in the business.”
John
Garner, head of LDC in Yorkshire & the North East said: “NBS is a
market-leading business, renowned for the quality of its products and services.
Over its 40-year history, and with a focus on delivering the best service to
its customers, it has built an enviable reputation. With a strong management
team who have delivered a track-record of growth, the business is
well-positioned to embark on the next phase of its growth strategy. We are
looking forward to working closely with the RIBA to support Richard and his
team, helping the business to deliver further successes at home and overseas.”
Richard
Waterhouse, NBS CEO, added: “We are delighted to be working with LDC on the
next stage of our growth plan that will see NBS strengthen its offering in the
UK and overseas, following a recent expansion into Canada and Australia.
Bringing in a new partner alongside our long term investor, the RIBA, will
create the perfect mix of experience in the market with high growth expertise.”
RIBA
member services and support are unaffected by this announcement.
