KKR (NYSE: KKR) stock rose in early trading Monday following the acquisition of Superstruct Entertainment, a European live entertainment group.
KKR, a global investment firm, has announced the acquisition of Superstruct Entertainment from Providence Equity Partners, a private equity firm known for growth-oriented investments in media, communications, education, and technology. As of press time, the financial terms of the transaction remain confidential.
Providence Equity Partners founded Superstruct Entertainment in 2017, and it rapidly grew into a leading European live entertainment group. The company owns and operates more than 80 music festivals across 10 countries in Europe and Australia. Its portfolio features iconic festivals such as Wacken Open Air and Defqon.1, Parookaville, Sziget, Tinderbox, Boardmasters, and Sónar.
KKR aims to support Superstruct in its next phase of growth and development. The investment firm plans to leverage its global resources and extensive network to expand Superstruct’s market presence and enhance its operational capabilities.
Moreover, Providence Equity Partners retains an option to invest €250 million into Superstruct as part of the deal.
Statements from KKR Leadership
Philipp Freise, Partner and Co-Head of European Private Equity, and Franziska Kayser, Partner at KKR, expressed their enthusiasm for the partnership. They stated,
“We are delighted to partner with Roderik Schlösser, 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.”
Goldman Sachs and Kirkland & Ellis advised KKR on the transaction, while Providence received financial counsel from HSBC, LionTree, and White & Case.
KKR (NYSE: KKR) Stock Price Action
As of 09:58 a.m. (Eastern Time) Monday, KKR stock traded at $110.20, marking a 1.27% increase compared to the previous trading session.
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