KKR to acquire Superstruct from Providence Equity Partners

KKR announces the acquisition of Superstruct Entertainment from Providence Equity Partners. Financial terms of the transaction were not disclosed. KKR said: “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 Sonar. 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 EUR 250M into Superstruct, KKR noted.