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Live events production and automation company TAIT has announced that Goldman Sachs Alternatives’ private equity business will acquire a majority stake in the company from Providence Equity Partners, pending regulatory approvals. Financial terms were not disclosed.

Founded by Michael Tait in 1978, TAIT supplies touring staging, scenic and automation for live events. The company currently operates offices worldwide, including in the U.S., Europe, the Middle East and Asia.

TAIT’s previous projects span Superbowl halftime shows, theme parks, World Expo pavilions, Olympic Opening ceremonies and venues, including partnerships with Taylor Swift, Cirque Du Soleil, Royal Opera House, Nike, NASA, Bloomberg, Google and Beyoncé.

TAIT CEO Adam Davis (pictured) highlighted the potential for growth and innovation as part of the deal: “This collaboration will unlock new opportunities and reinforce TAIT’s position as the industry leader in delivering culture-defining experiences. Goldman Sachs’ network and expertise will enable us to grow our global footprint and offerings, empowering the company to better serve clients, drive innovation, and pioneer new technology.”

Goldman Sachs’ platform and experience in media, entertainment and technology sectors will support TAIT’s next growth phase. Goldman Sachs managing director Simon Kubbies said, “TAIT is exceptionally well-positioned to benefit from secular tailwinds as the entertainment space grows in scale and complexity.”

Providence Equity Partners has supported TAIT for the past five years. Managing director Scott Marimow said, “We’re proud to have helped TAIT continue to grow through new services, geographies, and end markets and create lasting value for all stakeholders.”

Evercore served as financial advisor and Weil, Gotshal & Manges LLP served as legal counsel to TAIT. Goldman, Sachs & Co. LLC and PJT Partners were financial advisors, and Simpson Thacher & Bartlett LLP provided legal counsel to Goldman Sachs.