Populous announces private equity investment

International sport and entertainment architects Populous have announced that to broaden its reach and pursue growth opportunities globally it has sold a minority stake in the business to USA-based private equity firm Providence Equity Partners.

In an announcement, which did not disclose details of the investment, its was revealed that the backing, which is subject to regulatory approval, will support Populous in targetting opportunities to expand its service offerings and geographic presence.

Commenting on the deal, Populous co-founder and global Chair, Earl Santee advised “we have experienced ongoing success in our core business, as well as growth through geographic expansion and extension of the services that we offer our clients.

“As our industry continues to evolve, we believe this partnership will enable greater integration and expansion of our global business.

“Providence has a strong track record of supporting the success of businesses that deliver world-class events and experiences, and we believe their expertise will further accelerate our momentum and enable us to capitalise on additional growth opportunities while retaining the core values and culture that are integral to Populous.”

Providence, Managing Director, Scott Marimow added “oer the last 40 years, Populous has established an exceptional reputation for designing vibrant entertainment destinations that create unforgettable experiences for fans, spectators and communities worldwide.

“We have been impressed by the differentiated business and culture that Earl and his team have built, as well as its world-class portfolio of projects for some of the most iconic names in sports and entertainment.

“We believe Populous is well positioned for continued, sustainable growth and will benefit from consumer demand for live entertainment and increased infrastructure investment by venue owners seeking to create new and innovative environments and experiences.”

Populous, specialises in designing sports facilities, arenas, convention centres and airports, as well as the planning and design of large-scale events, started as HOK Sports Facilities Group in 1983, changed its name to Populous in 2009.

Its portfolio of more than 3,000 projects, includes Yankee Stadium in New York, Wembley Stadium in London, Accor Stadium in Sydney, Suncorp Stadium in Brisband and every Olympic and Paralympic Summer Games since 1996.

Current projects include ong Kong's new Kai Tak Stadium and the Sheikh Hasina Cricket Stadium in Bangladesh

Images: Populous concepts for Hong Kong's new Kai Tak Stadium (top) and the Sheikh Hasina Cricket Stadium in Bangladesh (below). Credit: Populous.