Live experiences leader TAIT announced that the Private Equity business at Goldman Sachs Alternatives will acquire a majority stake in the company from affiliates of Providence Equity Partners, subject to obtaining customary regulatory approvals. The terms of the deal were undisclosed.
For 45+ years, TAIT has been a trusted partner to some of the world’s most influential artists, brands, and institutions. And working across live experience, brand experience, placemaking, and location-based experience markets, TAIT created iconic productions and experiences in over 30 countries, all seven continents, and even outer space.
Superbowl half-time shows, award-winning theme parks, World Expo pavilions, Olympic Opening ceremonies, etc. have been brought to life through their global multi-disciplinary team. And Goldman Sachs brings a global platform, deep experience in the media, entertainment, and technology sectors and other value creation resources to support TAIT in its next chapter of growth.
Evercore and Jefferies served as financial advisors and Weil, Gotshal & Manges served as legal counsel to TAIT in connection with this transaction. Goldman Sachs and PJT Partners served as financial advisors and Simpson Thacher & Bartlett served as legal counsel to Goldman Sachs.
KEY QUOTES:
“Since its inception, TAIT has partnered with clients across the globe to bring visionary concepts to reality and create extraordinary live experiences. As we look to our future – where the digital and physical worlds seamlessly merge into bespoke, individually tailored events, we are thrilled to partner with Goldman Sachs. This collaboration will unlock new opportunities and reinforce TAIT’s position as an industry leader in delivering culture-defining experiences. Goldman Sachs’ network and expertise will enable us to grow our global footprint and offerings, empowering the company to better serve clients, drive innovation, and pioneer new technology.”
“I believe Providence has been integral to TAIT’s success. We thank them for their partnership and support in helping the company achieve incredible work.”
– Adam Davis, Chief Executive Officer of TAIT
“We have been incredibly impressed with TAIT’s differentiated solutions, passionate employees and long track record as a leading player in enabling live entertainment and experiences across the world. We are excited to partner with Adam and his team on their next phase of growth.”
– Leonard Seevers, Partner in Private Equity at Goldman Sachs Alternatives
“We believe that TAIT is exceptionally well-positioned to benefit from secular tailwinds as the entertainment space continues to grow in scale and complexity, and see tremendous value creation opportunities for TAIT as the company continues to broaden its technology offering and market coverage.”
– Simon Kubbies, Managing Director at Goldman Sachs Alternatives
“We’ve appreciated our tremendous partnership with the TAIT team over the past five years. We believe that TAIT is an exceptional company that is essential to the live events sector. We’re proud to have helped TAIT continue to grow through new services, geographies and end markets, successfully navigate the pandemic, and create lasting value for all stakeholders. We wish the company and their new partners well.”
– Scott Marimow, Managing Director at Providence
