Goldman Buying Majority Stake in Taylor Swift's Stage Builder TAIT
By Colin Kellaher
Goldman Sachs has struck a deal to acquire a majority stake in TAIT, the entertainment company that engineered the staging for Taylor Swift's blockbuster "Eras Tour."
TAIT on Tuesday said that the private-equity arm of Goldman Sachs Asset Management's alternative-investments platform is buying a majority stake in the Lititz, Pa., company from affiliates of Providence Equity Partners and other investors for an undisclosed amount.
Bloomberg last week reported that TAIT was exploring a potential sale that could value the company at about $1.3 billion.
TAIT, which designs and builds concert-touring infrastructure, said its management team will continue to lead the company and will remain significant shareholders.
Providence, which focuses on media, communications, education and technology companies across North America and Europe, invested in TAIT in 2019.
Goldman Sachs Alternatives' private-equity business, launched in 1986, has invested more than $75 billion since its inception.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 09, 2024 10:12 ET (14:12 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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