Dubai: Abu Dhabi’s ADNEC Group has bought out the operator of a major exhibition centre in London.
The UK entity that was acquired is BDCG Holdings Company, which owns Business Design Centre, one of the leading trade and exhibition venues located in London.
The ADNEC deal was conducted through its Excel London subsidiary.
The Business Design Centre, a Grade II listed venue, spans 4.5 acres of freehold estate and hosts multiple events such as the London Art Fair, HIX and the Surface Design Show. Every year, it hosts over 130 events which collectively bring in more than 900,000 visitors.
The deal is part of ADNEC parent company, Modon Holding's ambitions to be a player in the global events industry.
Business Design Centre has in addition to 6,000 square metres of dedicated event and conference space, provides over 12,500 square metres of quality, leasable space for showrooms, offices, and serviced offices.
The estate also includes the freehold title to the Hilton Hotel land located in Islington, London.
"The acquisition of BDC reinforces our leadership position in the global exhibitions and events industry, diversifying our portfolio with exceptional assets in our key markets of focus," said Bill O'Regan, Group CEO of Modon Holding. "We are committed to investing in ways that create lasting shareholder value while expanding Modon Holding's global presence."
It was in 2008 that ADNEC Group bought Excel, and the 'venue has continued to expand, operating 125,000 square metres of MICE space and becoming London’s first International Convention Centre in 2010.
After a recent 25,000 square metre expansion, 'Excel has become the largest integrated conference and exhibitions venue in Europe'. Excel also houses Immerse LDN, the immersive entertainment district.
