CVC Capital Partners ("CVC") announced today that funds advised by CVC have signed an agreement to acquire a majority stake in international musical and theatre group, Stage Entertainment. Under the terms of the transaction, CVC will acquire a 60% stake from the company's founder, Joop van den Ende, who will remain a 40% shareholder in the business and as co-chairman.
Founded 17 years ago, Stage Entertainment is the market leader in musical theatre in Continental Europe, responsible for licensing and locally producing globally acclaimed productions, such as the Lion King, Mamma Mia!, the Phantom of the Opera and Les Miserables, which together attract more than ten million visitors a year. The global live entertainment market is set to continue to grow, with Stage Entertainment playing a central part.
CVC has been active in the Dutch market since the early 1990s, including many successful investments, such as C1000, the second largest supermarket chain in the Netherlands. Leveraging its extensive industry experience and world-class network, CVC will work closely in partnership with Joop van den Ende to develop its portfolio of licensed and in-house content, to deliver continued growth in existing markets including Germany, Spain, Holland, France, Italy, UK, USA and Russia, as well as in new markets around the world.
Joop van den Ende, Stage Entertainment's founder commented: "Our current business model is based on creation and production of premium musicals, managing first class theatres and an excellent, long-term cooperation with major international producers who license us their musical content. My passion for theatre and musicals in particular, remains undiminished but I also realise that it is time for me to take a step back and hand over the reins of management to others as we look to realise the creative and financial ambitions for the business and grow our audiences from ten to twenty million visitors per year. CVC is the perfect partner to take our business to the next level."
Ivo Lurvink partner at CVC Capital Partners, said "Musical production has been a huge growth area in Europe in recent years. Joop has proven himself a visionary and has developed Stage Entertainment into an industry leader. We look forward to bringing our own network and operational expertise to support Joop and the team, in delivering an exciting future for the audience, our IP partners and for Stage Entertainment over the years ahead."