KKR & Co. Inc.
10/28/2024 | Press release | Distributed by Public on 10/28/2024 02:01
CVC joins KKR in the acquisition of Superstruct Entertainment
London, October 28, 2024 - KKR and CVC, two leading global investment firms, today announce that CVC has invested alongside KKR to support Superstruct Entertainment ("Superstruct") in its next phase of development as one of the world's premier live entertainment groups.
In June 2024, KKR announced the acquisition of Superstruct, which owns and operates over 80 music festivals across 10 countries in Europe and Australia. The transaction has now closed.
Since its inception in 2017, Superstruct has grown into one of the leading operators in the world of live entertainment. Superstruct owns some of Europe's most renowned events such as Wacken Open Air, Defqon.1, Parookaville, Tinderbox, Zwarte Cross and Sónar.
With CVC coming on board, Superstruct gains another strong strategic partner to support the talented team who have led the company's growth and success. The business will benefit from the combined global expertise, resources and capital of two leading investors with significant experience across the media and entertainment sector.
The investment positions Superstruct to accelerate its mission of creating best-in-class live experiences, working closely with entrepreneurs, creative visionaries and business-minded professionals. KKR and CVC will ensure that Superstruct remains at the forefront of the industry, driving innovation and setting the standards for live entertainment.
KKR brings extensive expertise in music, media, and entertainment through notable investments in companies such as BMG, ProSiebenSat1, GetYourGuide, Mediawan and Trainline. Similarly, CVC has a strong track record in the sector, with investments in Stage Entertainment, Formula One, Women's Tennis and LaLiga, among others.
Media Contacts
KKR
FGS Global
Alastair Elwen
+44 20 7251 3801
[email protected]
Nick Board
[email protected]
Superstruct
Brunswick
Paul Durman
+44 7793 522824
[email protected]
Notes to editors
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at www.globalatlantic.com.
About CVC
CVC is a leading global private markets manager with a network of 30 office locations throughout EMEA, the Americas, and Asia, with approximately €193 billion of assets under management. CVC has seven complementary strategies across private equity, secondaries, credit and infrastructure, for which CVC funds have secured commitments of approximately €240 billion from some of the world's leading pension funds and other institutional investors. Funds managed or advised by CVC's private equity strategy are invested in approximately 130 companies worldwide, which have combined annual sales of over €155 billion and employ more than 600,000 people. For further information about CVC please visit: https://www.cvc.com/. Follow us on LinkedIn.
About Superstruct Entertainment
Superstruct's mission is to amplify cultures through creativity, collaboration and live entertainment. Working with entrepreneurs and creative visionaries, our goal is to create a network of influence that sets the standards for live experiences. Founded in 2017 by James Barton and Roderik Schlosser, Superstruct is a European leader in live entertainment. Its well-diversified portfolio includes some of Europe's most popular festivals and live events, among them Wacken Open Air, Defqon1, Parookaville, Tinderbox, Zwarte Cross and Sónar.