TAIT announces equity investment

TAIT has 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.

“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,” Adam Davis, Chief Executive Officer of TAIT, said. “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.”

Working across live experience, brand experience, placemaking, and location-based experience markets, TAIT has created productions and experiences in over 30 countries, all seven continents, and outer space. Goldman Sachs brings a global platform, experience in the media, entertainment, and technology sectors and other value-creation resources to support TAIT in its next chapter of growth.

“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,” Leonard Seevers, Partner in Private Equity at Goldman Sachs Alternatives, commented. “We are excited to partner with Adam and his team on their next phase of growth.”

Simon Kubbies, Managing Director at Goldman Sachs Alternatives, added, “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.”

“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,” Scott Marimow, Managing Director at Providence, said. “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.”

Adam Davis, Chief Executive Officer of TAIT said, “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.”

Evercore and Jefferies served as financial advisors and Weil, Gotshal & Manges served as legal counsel to TAIT in connection with this transaction. Goldman, Sachs & Co. and PJT Partners served as financial advisors and Simpson Thacher & Bartlett LLP served as legal counsel to Goldman Sachs.