Investment supports Superstruct’s ambition to
become a global leader in music festivals and live events
KKR, a leading global investment firm, today announces the
acquisition of Superstruct Entertainment (“Superstruct” or the
“Company”), from Providence Equity Partners (“Providence”), a
premier private equity firm specializing in growth-oriented
investments in media, communications, education and technology.
Financial terms of the transaction were not disclosed.
Superstruct is an entrepreneurial and leading European live
entertainment group, owning and operating over 80 music festivals
across 10 countries in Europe and Australia. Since its
establishment in 2017 by Providence, Superstruct has grown
organically and through acquisitions into one of the world’s
premier live entertainment groups. Today, the company has a
well-diversified portfolio across music genres and geographies. The
portfolio includes some of Europe’s most popular and high-quality
festivals, such as Wacken Open Air, Defqon.1, Parookaville, Sziget,
Tinderbox, Boardmasters and Sónar.
Demand for live entertainment has grown significantly over the
past decade and is expected to continue to expand, as consumer
spending continues to shift from goods towards experience. KKR will
support Superstruct in its next phase of development as one of the
key players in a highly fragmented sector that continues to grow,
expand and professionalise, whilst preserving the creative and
cultural DNA of the Company.
As part of the transaction, Providence has an option to invest
€250 million into Superstruct.
Philipp Freise, Partner and Co-Head of European Private
Equity and Franziska Kayser, Partner at KKR, said: “We are
delighted to partner with Roderik Schl�sser, James Barton and the
team at Superstruct who have established themselves as a leader in
delivering unparalleled live music experiences globally. With a
robust foundation as a top-tier live entertainment platform, we see
significant growth opportunities ahead for Superstruct. Drawing on
our strong partnership approach and experience in the digital
entertainment and ticketing space, such as BMG, ProSiebenSat1,
GetYourGuide, and Trainline, as well as KKR’s global resources and
extensive network, we will support the company and its
entrepreneurial team to bring their compelling portfolio of live
event formats to a wider audience and drive further growth.”
Andrew Tisdale, Senior Managing Director and Daniel Zwicky,
Director at Providence Equity Partners, said: “We are
incredibly proud of the rapid growth and success Superstruct has
achieved since its inception. With Providence’s backing,
Superstruct has become a truly exceptional live entertainment
company. In particular, we believe the Company’s resilience and
emergence from the global pandemic as a stronger business is
testament to the entrepreneurial spirit of Roderik Schl�sser, James
Barton and the impressive management team. We are confident that
with KKR’s support, Superstruct will continue to thrive.”
Roderik Schl�sser, CEO and James Barton, Chairman of
Superstruct Entertainment said: “The founding vision for
Superstruct was to create a natural home for successful
entrepreneurs, creative visionaries, and business-minded
professionals in live entertainment. We wanted to create a network
of influence setting the standards for live experiences. Through
our development, we are a leader in the professionalization of this
industry, enabling our dedicated teams to excel in a collaborative
and inspiring environment and create and deliver best-in-class
events for millions of fans. We are proud to have secured the
backing of KKR, whose expertise and network will strengthen our
ability to scale and innovate in the vibrant experiential economy.
We would like to thank Andrew Tisdale, Daniel Zwicky and the team
at Providence for their outstanding support. Their belief in
Superstruct has been fundamental to our success.”
KKR has an extensive European track record and operational
experience in developing regional platform businesses in the
consumer and TMT sectors, including investments in Trainline,
GetYourGuide, Mediawan/Leonine, ProSiebenSat1, GfK and Axel
Springer. With its investment in Superstruct, KKR will draw from
direct experience working with independent music businesses,
including global music company BMG, helping the business deliver
its vision of supporting songwriters and treasuring their artistry.
KKR is making the investment in Superstruct through its European
Fund VI, an $8 billion fund that invests in the growth of leading
businesses by providing access to KKR’s extensive network and
business building resources. Recent investments from European Fund
VI include FGS Global, OHB and Nexeye. Across all investments, KKR
is differentiated by its strong partnership approach in working
closely with portfolio company management teams through their
transformation and growth.
Goldman Sachs is acting as financial advisor and Kirkland &
Ellis as legal advisor to KKR. Providence is being advised by HSBC
and LionTree as joint financial advisors, and White & Case as
legal advisor.
About KKR
KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people, and supporting growth in its portfolio
companies and communities. KKR sponsors investment funds that
invest in private equity, credit and real assets and has strategic
partners that manage hedge funds. KKR’s insurance subsidiaries
offer retirement, life and reinsurance products under the
management of Global Atlantic Financial Group. References to KKR’s
investments may include the activities of its sponsored funds and
insurance subsidiaries. For additional information about KKR &
Co. Inc. (NYSE: KKR), please visit KKRs website at www.kkr.com. For
additional information about Global Atlantic Financial Group,
please visit Global Atlantic Financial Group’s website at
www.globalatlantic.com.
About Providence Equity Partners
Providence Equity Partners is a specialist private equity
investment firm focused on growth-oriented media, communications,
education and technology companies across North America and Europe.
Providence combines its partnership approach to investing with deep
industry expertise to help management teams build exceptional
businesses and generate attractive returns. Since its founding in
1989, Providence has invested over $36 billion across more than 175
private equity portfolio companies. With its headquarters in
Providence, RI, the firm also has offices in New York, London,
Boston and Atlanta. For more information, please visit
www.provequity.com.
About Superstruct Entertainment
Founded in 2017 by James Barton and Roderik Schlosser,
Superstruct is a European leader in live entertainment. Its
well-diversified portfolio includes some of Europe’s most popular
festivals and live event formats, among them Flow, Arenal Sound,
Zwarte Cross, elrow, Victorious, Resurrection Fest and Lost
Village, alongside established capabilities in brand partnerships,
merchandise, staging and travel solutions. To connect with
Superstruct, visit www.superstruct.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240621755499/en/
KKR: Alastair Elwen / Mei Futonaka FGS Global +44 20 7251
3801 KKR-LON@fgsglobal.com Providence Equity Partners:
Charlie Chichester / Rory King FGS Global +44 20 7251 3801
ProvidenceEquity@fgsglobal.com
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