Star Live, the specialist production agency that delivers live event and specialist build solutions, has secured a significant investment from LDC, part of Lloyds Banking Group.
Star Live was responsible for the bespoke stage, grandstand seats and Royal Box at last month’s Coronation Concert. The company has delivered other major projects at events including the 2020 Olympics in Tokyo, the 2022 Commonwealth Games in Birmingham, BST Hyde Park and the Platinum Jubilee, along with stadium tours by acts such as Adele.
The business is enjoying considerable growth, having increased revenues by more than 30% in the last year alone to reach over £24m. 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 a multitude of major sporting, cultural and entertainment projects.
The investment will support the next stage of Star Live’s ambitious growth journey, 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 to play pivotal roles on the management team. Founding investors – including event entrepreneur David Walley – will exit the business.
Grahame Muir, CEO at Star Live, 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 Investment Director Mark Howden, Investment Manager Demetri Theofanou and Chris Handy, Partner and Head of West Midlands at LDC. Mark and Chris will join the board. As part of the investment, industry expert John Hornby, former Chief Operating Officer of the NEC Group, will join the Star Live board as Non-executive Chair.
Mark Howden, Investment Director at LDC, added: “Star Live has grown into a business that is synonymous with, and trusted by, world-famous events. The team’s ingenuity was on show to millions during the recent Coronation Concert, and preparations for a busy summer of festivals and sporting events are already in full swing. We’re excited to be partnering with Grahame, Simon and the team to support the next stage of Star Live’s growth journey.”
The investment continues LDC’s heritage of supporting the management teams operating in the events space to grow their businesses, 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).
