Christopher BarrettLos Angeles-based, Superstruct Entertainment has acquired Dutch electronic music event promoter ID&T from investor Axar Capital.
Headed by CEO James Barton, the founder of UK club and festival brands Cream and Creamfields (cap. 70,000), Providence Equity-owned Superstruct owns and operates more than 30 large scale festivals and live music events globally. They include the UK’s Victorious Festival (100,000), South West Four (20,000), Kendal Calling (25,000), Truck (10,000), Tramlines (40,000) and Boardmasters (50,000), along with Croatian festival Hideout (15,000), Sziget (95,000) in Hungary, Flow (10,000) in Finland and Oya (15,000) in Norway.
ID&T’s festivals portfolio includes dance music event Mysteryland (cap. 60,000), Awakenings (70,000) and Amsterdam Open Air (20,000). The company’s interests also include artist management company Headliner Entertainment and agencies the Platinum Agency and Most Wanted DJ-Agency.
The deal is reportedly valued at between $150 and $200 million.
An ID&T spokesperson said, “The collaboration offers us the opportunity to use an extensive international network of leading festivals, such as Sziget, Elrow, Parookaville, Wacken Open Air, Sonar and Zwarte Cross. We see great opportunities to share our expertise and create synergy between the two companies, in order to optimize the fan experience at our festivals. Although we are still going through a difficult time with the event industry, this collaboration gives us a lot of confidence in the future.”