Christopher BarrettVeteran promoter and former CEO of pan-European promoter, ticketing and venue giant DEAG, Prof Peter Schwenkow has revealed details of a new live entertainment venture.
Schwenkow, who helped build DEAG into a £400m revenue generating, multi-faceted, business, has promoted numerous major acts including David Bowie and the Rolling Stones, as well as productions such as Disney on Ice. He stepped down as CEO of DEAG two years ago.
“The aim is to bring successful mid-sized promoters, producers and operators together under a common umbrella and support their continued development alongside their existing management teams. Each business will retain its individual identity and operational autonomy,” he said.
With the support of Swiss private equity firm Ufenau Capital Partners, Schwenkow intends to create a leading mid-market group in the European live and family entertainment sector. The project has €100 million in available funding for “suitable investments and further acquisitions” and Schwenkow said he is interested in hearing from entrepreneurs, management teams and advisers interested in contributing to its development.
Ufenau is backing the initiative as investor and majority shareholder, with initial investment opportunities already being reviewed.
Schwenkow, who is the MD of German family entertainment and circus production company Grandezza Entertainment GmbH, said that company is set to become part of the new, yet to be named, live entertainment group.
“Europe’s entertainment market is home to a large number of highly successful, often founder-owned businesses,” said Schwenkow. “Together with Ufenau, we want to offer these entrepreneurs and their management teams a long-term growth perspective as part of a strong European group. Ufenau brings capital and extensive buy-and-build expertise; I will contribute my industry knowledge and network. Ralf Flore and I have known and respected each other since our time together at DEAG. I look forward to opening a new chapter in European entertainment with him and his team.”
“I have known Peter for more than 17 years and worked closely with him during my time on DEAG’s supervisory board,” said Flore, founder and managing partner of Ufenau Capital Partners. “He is an exceptional entrepreneur who understands the entertainment market from first-hand operating experience and has a long track record of successfully building and integrating businesses.
“The market is particularly attractive to Ufenau because it is highly fragmented and characterised by successful entrepreneur-led businesses with established formats and strong regional brands. A larger group can unlock additional opportunities across marketing, ticketing, international expansion and the development of proprietary content. Our aim is to realise that potential alongside strong management teams, while preserving the identity and entrepreneurial culture of each business. Peter’s industry expertise and Ufenau’s experience in building European groups are highly complementary.”