10 Aug Norway’s largest music festival sold to Superstruct Entertainment
Øyafestivalen, one of the most popular music festivals in Europe, was sold to Superstruct Entertainment.
Øyafestivalen, founded in 1999, is held annually in Tøyen Park in Oslo and receives 60,000 visitors each day. The 2018 edition featured acts by Kendrick Lamar, Arctic Monkeys, Arcade Fire, Lykki Li, Fever Ray, Patti Smith, and Charlotte Gainsbourg.
Superstruct Entertainment, led by CEO James Barton, is a live entertainment platform that owns and operates festivals and live music events including Sziget, Sónar, Elrow, and various others. The company is backed by US private equity firm Providence Equity Partners, which has USD 58 billion in assets under management.
Clairfield International in Norway acted as the exclusive financial advisor to the shareholders of Øyafestivalen.