Joe GallopSpecialist production agency Star Live said it has secured a significant investment from LDC, part of Lloyds Banking Group, to support its next stage of growth.
Star Live, which delivers live event and specialist build solutions, was responsible for the bespoke stage build, grandstand seats and Royal Box at last month’s Coronation Concert (pictured). The company is seeing considerable growth having increased revenues by more than 30% in the last year alone to reach over £24m.
Star Live has delivered other major projects at events including the Tokyo 2020 Olympics, the Birmingham 2022 Commonwealth Games, BST Hyde Park and the Platinum Jubilee, along with stadium tours by acts such as Adele. It has also secured major projects both in the UK and internationally, including the Wimbledon Tennis Championships and the 2023 Ryder Cup in Italy, alongside several major sporting, cultural and entertainment projects.
Star Live said the investment will support the next stage of its plans for growth, including further overseas expansion as well as investing in its people, brand, facilities and inventory of equipment.
LDC is backing Star Live’s existing management team – led by chief executive officer Grahame Muir and chief commercial officer Simon Broyd. Technical director Roger Barrett and central services director Lauren Stephens also continue on the management team. Founding investors – including event entrepreneur David Walley – will exit the business.
Muir said, “This investment from LDC capitalises on multiple recent wins including the Ryder Cup and Wimbledon, and will supercharge the business for growth. LDC is the ideal partner to support our business given their heritage, pedigree and proven track record for backing ambitious management teams. This investment signals the start of the next and most exciting chapter to date for Star Live.”
The investment was led by LDC investment director Mark Howden, investment manager Demetri Theofanou and Chris Handy, partner and head of West Midlands at LDC. Howden and Handy will join the board. As part of the investment, industry expert John Hornby, former chief operating officer of the NEC Group, will also join the Star Live board as non-executive chair.
LDC has previously invested in management teams operating in the events industry, including loudspeaker manufacturer Martin Audio, global B2B events specialist FC Business Intelligence and hospitality and leisure operator BOXPARK.
Star Live was advised by Regent Assay (corporate finance) and The Wilkes Partnership (legals). LDC was advised by Freeths (legals), KPMG (financial and tax due diligence), Fairgrove (commercial due diligence), Clearwater International (corporate finance).