After 45 years seems Joop van den Ende finally to take a step back from the international musical and theater world. As The Telegraph reported last month, he sells 60% of his company Stage Entertainment to the British investment company CVC
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Van den Ende confirmed the deal this afternoon and press conference. The acquisition price was not disclosed, but sources in the market in May talked about an amount of € 400 million.
Van den Ende will remain involved in placement because of his knowledge and experience. He will continue to work 75 days a year to provide advice. The reason for the sale Van den Ende gave his age. He is 73 years old.
In his own words has Van den Ende interviewed eleven potential buyers. According to Van den Ende CVC was the best buyer for the future of Stage. “In particular, there are at CVC two people who truly love theater.”
The transaction is the second time in a year for Stage Entertainment. In December, the department merged Netherlands Stage Entertainment – Joop van den Ende Theatre – even with competitor Albert Verlinde Entertainment. Verlinde has the reins at the Dutch branch of Stage Entertainment, known for crowded shows like “He believes in me” about the life of folk singer André Hazes.
In December the Netherlands merged department of Stage Entertainment – Joop van den Ende Theatre – with competitor Albert Verlinde Entertainment Photo: Roy Beusker Market Experts assume that it make big money in the live entertainment market in the future will be on the East Coast China. “There is no hyper-competitive stage as Broadway or the West End, but a fast-growing middle class with more free time,” explains an official from. Stage can then join forces with Disney, where it has more good works with.
As the opportunities for CVC and Internship in China lie, then lie the threats more on the domestic market, and in the other European countries. In the Netherlands the rack largely out of the market, recognized Verlinde in December
Real
In addition to the production and execution of performances is a part of the assets of Stage furthermore in real estate.: The company has around twenty theaters in their own hands. There are mostly staged its own productions. However, it is extremely expensive to make that real estate unused, hence sometimes onerous shows continue to run.
Stage turned in the past broken financial year, the figures have not yet been filed, according to insiders estimated sales more than € 500 million and EBITDA of € 40 to € 45 million.
Not favorite
The Anglo-Dutch private equity firm CVC, owner of the commercial rights to Formula 1 was not the clear favorite for the deal. Connoisseurs market saw another investor, Providence, a buyer would probably pay a higher price. This is because the American party even though the owner of the Ambassador Theatre Group and both could be merged to capitalize on synergies.
CVC, which manages other funds of Dutch pension funds, the deal is a success. CVC recently renounced his principal investment in the Netherlands, waste processor Van Gansewinkel. CVC went there agreed to a debt restructuring, which it lost its entire investment of several hundred million euros
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