Providence Ready to Take Superstruct Bids?

Boardmasters, part of Superstruct's UK portfolio. Pic: James North for Boardmasters

Sources who recently spoke to Reuters have indicated that the private equity fund, Providence, are about to formally launch the sale of the business, with a valuation that could reach £1.5 billion.

Since its launch in 2017, when Providence teamed up with Creamfields founder James Barton, Superstruct has grown by acquisitions across Europe and Australia.

Whilst smaller, independent festivals struggle, it is understood that Providence are seeking to capitalise on the bounce back of live music following the Covid-enforced break.

Potential bidders for the company, which reportedly generates annual earnings (EBITDA) of more than €100m, include investment funds Blackstone, CVC, KKR and EQT as well as Advance Publications, the owners of Condé Nast.