Private equity investor Goldman Sachs Alternatives revealed plans to take a majority stake in the TAIT, the live events production and automation company.
The deal, which is still subject to regulatory approval, will see the Goldman-backed private equity venture acquire a controlling share of TAIT from affiliates of Providence Equity Partners. The financial details of the transaction were not disclosed.
Founded by Michael Tait in 1978, TAIT has developed a reputation suppliers of touring staging, scenic, and automation for live events and currently maintains offices around the world, including the U.S., Europe, the Middle East and Asia.
“We have been incredibly impressed with TAIT’s differentiated solutions, passionate employees and long track record as a leading player in enabling live entertainment and experiences across the world. We are excited to partner with Adam and his team on their next phase of growth,” said Leonard Seevers, Partner in Private Equity at Goldman Sachs Alternatives.
“I believe Providence has been integral to TAIT’s success. We thank them for their partnership and support in helping the company achieve incredible work,” added Adam Davis, Chief Executive Officer of TAIT.
