Providence carried Superstruct through the COVID-19 pandemic when concerts and other public events came to a sudden halt, heavily impacting the company’s revenue and earnings. It has since grown by swallowing up festivals across Europe and Australia, and now operates 80 large-scale festivals and 200 smaller events. The rebound in live music and festivals following the end of lockdowns has also encouraged investment in the sector. Private equity owner Silver Lake is advancing towards a sale of Australian live events and ticketing group TEG, which could be worth A$2 billion dollars, according to people with knowledge of the matter. The sale of TEG could serve as a yardstick for putting a price on Superstruct, as well as gauging buyer interest, one of them added.

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Persons: Superstruct, James Barton, Silver, TEG, Amy, Jo Crowley, Jan Harvey Organizations: Superstruct Entertainment, Providence, Live Nation, Thomson Locations: Superstruct, Providence, Europe, Australia, lockdowns