TAIT, a global leader in creating transformative live experiences, has announced that Goldman Sachs Alternatives will acquire a majority stake in the company from Providence Equity Partners, pending regulatory approvals. This significant move will enable TAIT to expand its global reach and innovate within the live events industry.

Key Points:

  • Acquisition Announcement:
    • Goldman Sachs Alternatives will acquire a majority stake in TAIT, subject to customary regulatory approvals.
    • Financial details of the transaction have not been disclosed.
  • TAIT’s Vision for the Future:
    • Adam Davis, CEO of TAIT: Expressed excitement about the partnership with Goldman Sachs, highlighting the potential for growth and innovation. He emphasized that the collaboration will help TAIT merge digital and physical worlds to create extraordinary, bespoke events.
    • The partnership aims to enhance TAIT’s capabilities and expand its global footprint, enabling the company to better serve clients and drive future success.
  • TAIT’s Legacy and Impact:
    • For over 45 years, TAIT has been a trusted partner for some of the world’s most iconic artists, brands, and institutions.
    • The company has delivered high-profile productions across diverse markets, including Super Bowl halftime shows, award-winning theme parks, World Expo pavilions, and Olympic Opening ceremonies.
  • Goldman Sachs Alternatives’ Role:
    • Leonard Seevers, Partner at Goldman Sachs Alternatives: Praised TAIT for its innovative solutions and passionate team. He expressed excitement about supporting TAIT’s next growth phase.
    • Simon Kubbies, Managing Director at Goldman Sachs Alternatives: Highlighted TAIT’s strong position in the growing entertainment sector and the opportunity to expand the company’s technology offerings and market presence.
  • Providence Equity Partners’ Contribution:
    • Scott Marimow, Managing Director at Providence: Reflected on a successful five-year partnership with TAIT, commending the company’s growth and resilience. He wished success to TAIT and its new partners.
    • Adam Davis: Acknowledged Providence’s instrumental role in TAIT’s achievements and expressed gratitude for their support.
  • Advisors for the Transaction:
    • TAIT: Financial advisors were Evercore and Jefferies LLC; legal counsel was provided by Weil, Gotshal & Manges LLP.
    • Goldman Sachs: Financial advisors were Goldman, Sachs & Co. LLC and PJT Partners; legal counsel was provided by Simpson Thacher & Bartlett LLP.

The acquisition of a majority stake in TAIT by Goldman Sachs Alternatives represents a major milestone in the company’s history. This partnership is set to propel TAIT into a new era of growth and innovation, positioning it to meet the evolving demands of the live entertainment and events industry.