HELSINKI, Finland (CelebrityAccess) — Former Cream founder James Barton’s Superstruct Entertainment, the live music-focused arm of the U.S.-based private equity investor Providence Equity Partners, has added another European festival to its portfolio.
Finnish music festival Flow appears to be the latest acquisition for Superstruct, with organizers for the event reporting they entered into an “investment and partnership in Superstruct Entertainment.”
The Founders of Flow – Tuomas Kallio, Chairman of the Board and Artistic Director; Suvi Kallio, Managing Director; and Toni Rantanen, Artistic Director of Electronic Music – will continue to lead the company and remain shareholders.
“Given the accelerating global competition, we want to ensure Flow is able to offer the highest-quality experience. By partnering with Superstruct, we will be able to not only improve our existing event in Finland – including continued development of the Suvilahti event area – but simultaneously collaborate with a chain of quality events.” Kallio said in making the announcement.
The Flow Festival is the latest in a series of festival acquisitions in the European festival scene for Superstruct. Other properties the company has acquired include a majority stake in Spanish promoter Advanced Music SL, the company behind the Sónar festival, and Sónar+D congress, OFF Sónar and SónarKids, among other events.
Other acquisitions for Superstruct this year include a 70 percent stake in the Hungarian festival brand Sziget.
After Superstruct acquired Sziget, Paul Bedford, Superstruct’s CFO and, told Reuters that the company is eyeing as many as ten festival acquisitions in the next couple of years. “We have in mind a federation of festival brands. They will work together as much and as often as they want to,” he said. “There is some strength in numbers in this game.”