Goldman Sachs Alternatives, a private equity arm of New York-based finance giant Goldman Sachs, has agreed to purchase a majority stake in TAIT, a live-entertainment production company based at Rock Lititz in Lancaster County.
The seller is private equity firm Providence Equity Partners , which has had a stake in TAIT since 2019. Terms of the deal, which is subject to regulatory approvals, were not disclosed.
In an interview, TAIT CEO Adam Davis said the company planned to lean on the expertise and network of Goldman Sachs to fuel growth.
“We’re incredibly excited about the opportunities that are ahead of us,” Davis said.
Priorities include building on the company’s proprietary technology platform to create experiences that bridge the physical and digital worlds, he said.
“The strategy of the business isn’t changing,” he said.
The company, which has 20 offices around the world, will remain headquartered at Rock Lititz, where it employs about 600 people. The company has what a spokesperson described as 2,000 team members overall.
Providence invested in TAIT in 2019.
The background: TAIT was founded in 1978 by Michael Tait, who started in the music business as the manager of rock group Yes.
The company initially focused on concert tours but has branched into the broader universe of live experiences, which has brought it customers in the corporate and hospitality worlds.
The company has done production work for the likes of Taylor Swift, Cirque du Soleil, the Royal Opera House, Nike and Google.
In 2021, the company helped the Niagara Parks Commission develop an immersive experience at a hydroelectric power plant.
The commission, which oversees the Canadian side of Niagara Falls, wanted to give tourists more to see than just see the falls, Davis said.
