M&A Deal Summary

Goldman Sachs Merchant Banking Acquires TAIT

On July 9, 2024, private equity firm Goldman Sachs Merchant Banking acquired media company TAIT from Providence Equity Partners

Acquisition Highlights
  • This is Goldman Sachs Merchant Banking’s 6th transaction in the Media sector.
  • This is Goldman Sachs Merchant Banking’s 125th transaction in the United States.
  • This is Goldman Sachs Merchant Banking’s 7th transaction in Pennsylvania.

M&A Deal Summary
Date 2024-07-09
Target TAIT
Sector Media
Buyer(s) Goldman Sachs Merchant Banking
Sellers(s) Providence Equity Partners
Deal Type Secondary Buyout
Advisor(s) Evercore Group
Jefferies (Financial)
Weil Gotshal & Manges (Legal)

Target

TAIT

Lititz, Pennsylvania, United States
TAIT is a provider of advanced creative and engineering solutions to the live entertainment industry. It provides end-to-end solutions to design, construct, manufacture and operate custom-built concert touring and permanent installation experiences. TAIT was founded in 1978 and is based in Lititz, Pennsylvania.

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Buyer(S) 1

Buyer

Goldman Sachs Merchant Banking

New York, New York, United States
Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.

DEAL STATS #
Overall 181 of 183
Sector (Media) 6 of 6
Type (Secondary Buyout) 66 of 67
State (Pennsylvania) 7 of 8
Country (United States) 125 of 127
Year (2024) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-06 CarltonOne Engagement

Markham, Ontario, Canada

CarltonOne Engagement is a technology company that creates B2B employee recognition, rewards, sales/channel incentive, and customer loyalty programs. CarltonOne Engagement was founded in 1989 and is based in Markham, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-19 Interplay Learning

Austin, Texas, United States

Interplay Learning is a company that specializes in online training and education, focusing on skilled trades such as HVAC, electrical, plumbing, and facility maintenance. Interplay Learning is based in Austin, Texas.

Buy -

Seller(S) 1

SELLER

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.

DEAL STATS #
Overall 100 of 100
Sector (Media) 23 of 23
Type (Secondary Buyout) 31 of 31
State (Pennsylvania) 5 of 5
Country (United States) 68 of 68
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-21 Superstruct

London, United Kingdom

Superstruct is a global platform of live music festivals and music events in Europe and Australia. Its well-diversified portfolio includes some of Europe’s most popular festivals and live event formats, among them Flow, Arenal Sound, Zwarte Cross, elrow, Victorious, Resurrection Fest and Lost Village, alongside established capabilities in brand partnerships, merchandise, staging and travel solutions. Superstruct was founded in 2017 and is based in London, England.

Sell -
Mergr

Product

Company

Legal