One of Spain’s leading festival operators, The Music Republic (TMR) has reportedly been acquired by US private equity fund Providence Equity Partners via its events and festival company Superstruct Entertainment.
Founded by brothers David and Toño Sánchez, The Music Republic has been behind festivals such as Benicàssim, Arenal Sound, Viña Rock, Festival de Les Arts, Interstellar Sevilla, Madrid Salvaje (pictured), Granada Sound and Love The 90’s.
Sources told Spain’s El Confidencial that Superstruct had acquired 100% of TMR for around €120m (£106m). In 2018, Providence bought a majority stake in Barcelona’s Sónar.
Providence’s Superstruct Entertainment was founded by James Barton, the founder of UK club and festival brand Cream, and the Creamfields festival (cap. 70,000). Superstruct has proven acquisitive in recent years in the UK, buying up controlling stakes in festivals including Y Not and Bluedot to take its UK festivals collection to nine events including Victorious Festival, Tramlines, Boardmasters and NASS.
The company also strengthened its reach in mainland Europe last year with the acquisition of Amsterdam-based electronic music event promoter Apenkooi Group via its Dutch music event promoter arm ID&T, with Superstruct having acquired ID&T less than a year beforehand.
Among the other European festivals owned by Superstruct include Hungary’s 95,000-capacity Sziget, Croatian festival Hideout, Flow in Finland and Oya in Norway.