CVC Capital Partners will acquire a 60 percent stake in Amsterdam-based Stage Entertainment from the company's founder, Joop van den Ende, according to a statement.
The transaction value was around €320 million ($363 million; £229 million), it is understood.
Joop van den Ende will retain 40 percent of the company shares and serve as co-chairman, according to the statement. He founded Stage Entertainment in 1998 and turned the company into a significant European musical theatre company presenting productions such as Les Miserables, Lion King, Mamma Mia! and the Phantom of the Opera. It operates in eight countries and generates a turnover of more than €500 million (£356.82 million; $567.18 million).
“My passion for theatre and musicals in particular remains undiminished but I also realise that it is timefor me to take a step back and hand over the reins of management to others as we look to realise the creative and financial ambitions for the business and grow our audiences from 10 to 20 million visitors per year,” van den Ende said. “CVC is the perfect partner to take our business to the next level.”
CVC, a London-based private equity and investment advisory firm, has been active in the Dutch market since the early 1990s, according to the statement, having invested in the second largest supermarket chain in the Netherlands. Its partnership with van den Ende will support Stage Entertainment's development of content and expansion into new markets.
CVC manages $71 billion in assets and has raised $679.91 million for its CVC Growth Partners fund as at March 2015, according to PEI's Research & Analytics division.