Providence is investing in GCL, the logistics company behind the Eras tour

PRivate Equity company Providence Equity Partners made a majority investment in the logistics company GCL, the companies announced on Wednesday (May 21). The former majority owner Atl Partners will maintain a minority stake in GCL. The conditions of the deal were not announced, but The Wall Street Journal The GCL investment values ​​reported to more than 1 billion US dollars.

GCL for most music fans is unknown and has a long history to support music and live events through brands such as rock-it-cargo, diet and cars. The company began supporting Led Zeppelin and Uriah Heep in 1978. In recent times, GCL has worked with Taylor Swifts the Eras Tour and the FIFA World Cup 2026. Stew HeathcoteGCLS President for Live events is a former AEG leadership that worked with Taylor Swift and Coachella. GCL also has a luxury goods department that works with auctions, art shows and exhibitions to transport everything from visual art to expensive cars.

Since its foundation in 1989, Providence has invested more than 40 billion US dollars. Her huge portfolio includes the sports and music agency Wasserman and Tempo Music, a musical investment partnership with the Warner Music Group. Last year, Providence Superstruct, a live entertainment company that owns festivals such as Wacken Open Air and Sonar, sold to the global investment company KKR.

“For almost 50 years, the GCL has deserved the trust of the world's biggest names in the live event sector and has a leading position in all final markets that it serves, set up a leading position”, “” Scott MarimowManaging Director of Providence said in a statement. “We have a deep appreciation for the business and the understanding of the business, especially in view of our long history of investing in entertainment and sport.”

“The commitment of Providence confirms the strategy for the customer in the customer and will further expand our skills in the coming years,” said GCL President and CEO Daniel Rosenthal. “The proven track record and depth of the relationships of the Providence team in our final markets make you the ideal partner for the next chapter of the servants of our customers.”