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The Yucaipa Companies has provided financial backing to independent US festival promoter Danny Wimmer Presents, adding to interests in Paradigm and Primavera
By Anna Grace on 21 Feb 2020
Private-equity firm the Yucaipa Companies has provided backing for another live entertainment company, making a “substantial” investment in independent US festival producer Danny Wimmer Presents (DWP).
Ron Burkle’s Yucaipa has existing interests in the live music industry, through its joint venture with Paradigm Talent Agency and minority stake in Primavera Sound and Primavera Pro.
Danny Hayes, CEO of DWP, cites Yucaipa’s “successful investments in the music industry” as the reason for the financial partnership.
“We had several different options for investors, but ultimately selected Yucaipa because they really understood our growth strategy, and they are uniquely situated to help us execute on it,” says Hayes.
“Yucaipa [also] has key relationships in cities where we already operate and others we’d like to enter. We believe they will be able to accelerate our plans to expand into new markets.”
“We believe [Yucaipa] will be able to accelerate our plans to expand into new markets”
Founded in 2011, LA-based DWP produces seven music festivals across the US: Sonic Temple in Ohio, Aftershock in California, Epicenter in North Carolina, Welcome to Rockville in Florida and the Louisville Trifesta series, comprising Hometown Rising, Louder Than Life and Bourbon & Beyond.
DWP festivals attracted almost 750,000 fans in 2019.
The promoter aims to announce its initial acquisitions soon, having also announced new investment from First Horizon Bank and a renewed ticketing partnership with Front Gate Tickets.
“Collectively, the new and renewed partnerships provide DWP with a foundation to aggressively grow the business surrounded by forward-thinking partners,” comments Hayes.
The United Auburn Indian Community, an earlier investor in DWP, continues to hold a position with the company.
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