Dutch events brand ID&T has been reportedly bought by UK-based events promoter Superstruct Entertainment according to Music Business Worldwide. Superstruct is buying ID&T from Axar Capital for between $150 million and $200 million, according to Netherlands-based financial publication Het Financieele Dagblad.
Superstruct is backed by private equity firm Providence Equity Partners, which specializes in the media, communications, entertainment, software, and services industries. It already has brands like Sziget, Elrow, Parookaville, Wacken Open Air and Boardmasters under its umbrella at the moment. Superstruct also has a majority stake in Sonár and bought Global Media & Entertainment's festival portfolio in 2019, which includes South West Four, Hideout and more.
Superstruct is run by James Barton, who founded dance brand Cream and the festival Creamfields. He was also president of electronic of electronic music at Live Nation.
ID&T puts on events like Mysterland, Q-Dance and Awakenings. With live music still in a precarious position with the uncertainty of the pandemic, this might be a risk, but the longterm outlook could be strong. However, we saw what happened the last time someone tried to buy up loads of dance event brands, so hopefully they learn the lesson from SFX, which took some good people down in the pursuit of a quick payday.