Private equity investor Goldman Sachs Alternatives has revealed plans to acquire a majority stake in live event production and automation company TAIT.
In the deal, which remains subject to regulatory approval, the Goldman Sachs-backed private equity firm will acquire a controlling stake in TAIT from an affiliate of Providence Equity Partners. Financial details of the deal were not disclosed.
Founded in 1978 by Michael Tait, TAIT has become a well-known supplier of staging, scenery and automation for live event touring and currently has offices around the world, including the United States, Europe, the Middle East and Asia.
“We are impressed by TAIT’s differentiated solutions, passionate employees and long-standing track record as a global leader in live entertainment and experiences. We are excited to partner with Adam and his team to drive the next phase of growth.
“I believe Providence is critical to TAIT’s success. We are grateful for their partnership and support that has helped the company achieve its incredible achievements,” added TAIT CEO Adam Davis.
