Superstruct’s Ritty van Straalen to exit the firm
Festival behemoth Superstruct Entertainment has announced that Ritty van Straalen is leaving the company on 1 November 2024.
Van Straalen has been the firm’s strategic advisor in the Benelux for the past year and was previously CEO of ID&T when it partnered with Superstruct in 2021.
Van Straalen first joined Dutch promoter ID&T in 2002, becoming a director of the dance music group a few years later and moving to New York to open its US office in 2013.
After three years away setting up his own business, he returned to ID&T as chief operating officer in 2019, before becoming CEO and steering ID&T through the pandemic.
At the height of the pandemic, ID&T signed a partnership agreement with Superstruct, which helped steer the company into a “safe haven” after a tough period that saw the company take out several loans, slash its workforce, and cancel its festivals, including Mysteryland, Defqon.1, Awakenings, and Milkshake.
“ID&T and Superstruct are entering the next phase of their development, and this feels like the right time to move on”
Van Straalen’s decision to leave Superstruct comes soon after it was acquired for €1.3bn by global investment giant KKR, with private equity firm CVC securing a stake in the firm earlier this week.
“After more than 20 years in various leadership roles and boards with ID&T and other international businesses, it is time to start a new chapter in my life,” he says. “ID&T and Superstruct are entering the next phase of their development, and this feels like the right time to move on.”
“Over the past few years, we have been able to continue building the company together with Superstruct, adding beautiful festival brands and various service companies to the portfolio. I look back with great pride on all we have achieved and am confident about the future of all our festivals. The future is open for me – I am looking forward to embracing a new challenge.”
Roderik Schlösser, Superstruct’s CEO, adds: “Ritty’s passion for the industry and dedication to our festival brands have not only contributed to the success of our business but also inspired others. Superstruct is grateful for Ritty’s strong commitment and valuable contributions over the years. We wish him every success with his future endeavours.”
Superstruct owns and operates over 80 music festivals across 10 countries in Europe and Australia, including Wacken Open Air, Parookaville, Tinderbox, Sónar, Øya, Benicàssim, Kendal Calling and Boardmasters. It was founded in 2017 by Creamfields founder and former Live Nation president of electronic music James Barton and Roderik Schlosser while at Providence Equity, which previously owned Superstruct.
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Private equity giant acquires Superstruct stake
Private equity firm CVC has secured a stake in Superstruct Entertainment just weeks after KKR’s acquisition of the festival behemoth was given the green light.
Fellow global investment giant KKR, whose interests include music company BMG, acquired Superstruct from Providence for €1.3 billion in June – a deal that was approved by the European Commission last month.
Superstruct owns and operates over 80 music festivals across 10 countries in Europe and Australia, including Wacken Open Air, Parookaville, Tinderbox, Sónar, Øya, Benicàssim, Kendal Calling and Boardmasters. It was founded in 2017 by Creamfields founder and former Live Nation president of electronic music James Barton and Roderik Schlosser while at Providence.
Details of CVC’s stake have not been disclosed, but it has made past investments in musical and theatre group Stage Entertainment, as well as Formula One, Women’s Tennis and LaLiga, among others.
Private markets manager CVC, which has a network of 30 office locations throughout EMEA, the Americas and Asia, will support Superstruct as a strategic partner in the next phase of its development, with the promoter to benefit from the “combined global expertise, resources and capital of two leading investors with significant experience across the media and entertainment sector”.
“KKR and CVC will ensure that Superstruct remains at the forefront of the industry, driving innovation and setting the standards for live entertainment”
“KKR and CVC will ensure that Superstruct remains at the forefront of the industry, driving innovation and setting the standards for live entertainment,” reads a press release.
According to the firms, CVC’s investment “positions Superstruct to accelerate its mission of creating best-in-class live experiences, working closely with entrepreneurs, creative visionaries and business-minded professionals”.
CVC was named as a potential bidder for Superstruct as far back as April, prior to the launch of a formal auction process for the firm – the second-largest festival promoter in the world after Live Nation.
IQ charted the increasingly close links between the international touring industry and private equity here.
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