Providence Equity Partners has acquired a controlling stake in Global Critical Logistics (GCL), a New York-based event logistics specialist, in a deal valued at over $1bn, according to sources cited by the Wall Street Journal. 

GCL, best known as the parent of Rock-it Cargo, provides logistics services for major global tours, including Taylor Swift’s Eras tour.

The deal, announced earlier this week, sees Providence acquire its latest asset in the booming live events sector. ATL Partners, GCL’s previous majority owner, will retain a minority stake, while GCL President and CEO Daniel Rosenthal will continue to lead the business.

Scott Marimow, Managing Director at Providence, said: “For nearly 50 years, GCL has earned the trust of the world’s biggest names in live events and established a leading position across its markets. We are excited to support the company’s next growth phase.”

The transaction underscores private equity’s growing appetite for the live events space. Providence has a strong track record in the sector, with past investments in ATG Entertainment, venue design firm Populous, and music rights fund Tempo Music (launched with Warner Music Group). The firm also backed Sweetwater, a US musical instrument retailer, and talent agency Wasserman.

Daniel Rosenthal commented that Providence’s commitment validates GCL’s strategy and will help expand its capabilities in the years ahead. He thanked ATL Partners for their support over the past seven years, during which GCL expanded into adjacent markets and became a leading player in live events and luxury logistics.

The GCL deal follows other major private equity transactions in the live events space, including Goldman Sachs’ acquisition of staging company TAIT and KKR’s $1.4bn purchase of European festival organiser Superstruct.

Source: Wall Street Journal

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