By Ben Glickman

Providence Equity Partners struck a more-than $1 billion deal to acquire a live-event logistics company that has worked on Taylor Swift and Beyoncé's tours, according to people familiar with the matter.

Led Zeppelin roots

The private-equity firm is acquiring GCL, or Global Critical Logistics, from fellow buyout firm ATL Partners, the companies announced Wednesday, confirming an earlier report in The Wall Street Journal.

GCL isn't exactly a household name, but it is a literal behind-the-scenes cog providing core logistics for different types of events, including concert tours, film and TV productions and sports.

It provided services for Swift's record-breaking 'Eras' Tour and has set the stage for the likes of Beyoncé and Paul McCartney. It has also agreed to help at the 2026 FIFA World Cup, which is being hosted in the U.S., Mexico and Canada, and has worked with the National Football League and Art Basel.

It traces its history back to 1978, when predecessor company Rock-It Cargo began by serving Led Zeppelin and Uriah Heep, according to its website.

ATL Partners in 2018 bought a majority stake in Rock-It, and has since completed several add-on acquisitions for what is now GCL. ATL Partners is maintaining a minority stake in the business as part of the Providence deal.

The context

Live events such as concerts have exploded in popularity since pandemic restrictions were lifted. Live Nation, the world's largest concert promoter, recently said it expects a record summer concert season and that customers were willing to pay more for bigger shows.

Providence has invested heavily in various businesses connected to live events since well before the pandemic. The company in 2019 helped launch a music-rights company called Tempo Music Investments, alongside Warner Music Group.

Its portfolio also includes venue operator ATG Entertainment and sports-stadium design firm Populous.

Providence last year sold a majority stake in one of its portfolio companies, TAIT, that specializes in designing and building stages for concert tours.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

May 21, 2025 09:59 ET (13:59 GMT)

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