HomeBussinessTaylor Swift’s stage designer explores possible sale

Taylor Swift’s stage designer explores possible sale

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Taylor Swift performing at the Aviva Stadium in Dublin, during the Eras Tour. The gigs were reported to be the most lucrative in Irish history. Photo: PA

Ryan Gould and Gillian Tan

TAIT, the engineering firm designing the stage for Taylor Swift’s current Eras Tour, is exploring a potential sale, people with knowledge of the matter said.

The company, which is backed by Providence Equity Partners, is working with an adviser as it seeks to gauge buyer interest, according to the people. It could be valued at about $1.3bn (€1.2bn), they said.

TAIT creates tour staging for live events. It has worked on sets for Rihanna’s Super Bowl Halftime Show and Beyoncé’s Renaissance World Tour in 2023, as well as Swift’s Reputation Tour in 2018, according to its website.

The company has earnings before interest, taxes, depreciation, and amortization of about $90m, the people said, asking not to be identified discussing confidential information.

The Eras Tour has been a money-spinning effort from Swift, with the singer’s 50-plus concerts in the US last year adding $4.3bn to the country’s gross domestic product, according to estimates from Bloomberg Economics.

The sold-out Dublin leg of Taylor Swift’s Eras Tour wrapped up on Sunday night. Over three nights 150,000 Swifties descended on Dublin’s Aviva Stadium in what was reportedly the most lucrative set of concerts in Irish history.

Across Europe, Eras has provided the continent with a surge of flight and hotel bookings from Swift’s legions of fans.

Deliberations are ongoing and there’s no certainty that TAIT will decide to pursue a sale, the people said.

Representatives for Providence and TAIT declined to comment.

Providence announced a growth investment in TAIT in 2019 without disclosing financial terms.

TAIT chief executive officer James Fairorth and chief creative officer Adam David remained significant shareholders after the transaction, according to a statement at the time.

Founded in 1978 by Michael Tait, the company has also produced sets and brand experiences for the likes of Alphabet ’s Google, the National Basketball Association and Swarovski, its website shows.

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