The private equity firm says it made a “strategic investment” in the ticket reseller
GTCR has announced that it has signed a definitive agreement alongside Vista Equity Partners to invest in VividSeats, which facilitates millions of transactions per year for sports, concert and theater events.
In the deal, GTCR will partner with co-founders Jerry Bednyak and Eric Vassilatos and the Vivid Seats management team as they continue to grow and develop the Company’s technology and service offerings. Bednyak and Vassilatos are expected to maintain a significant ownership stake in the company.
“The Vivid Seats team has built a tremendous business that is well-positioned for long-term success,” said GTCR Managing Director David Donnini in a release. “The impressive growth over the last decade is a testament to their customer service, operating excellence and proprietary technology platform.”
“We are excited to partner with GTCR in the next stage of Vivid Seats’ evolution,” said Bednyak and Vassilatos in the release. “GTCR brings significant resources and experience in building industry-leading companies, and we believe they will be a valuable resource in the long-term expansion of our business. We would also like to thank Vista for their support and look forward to their continued partnership.”
The transaction is expected to close in the second quarter of 2017.
Latest posts by Taylor Mims (see all)
- Finnish Duo Phantom Release First-Ever VR Music Video - January 18, 2018
- The Thr33: Chris Stapleton & Arcade Fire To Headline Sloss Fest, Unreleased Material At 4-Day Prince Tribute, & The Ataris’ Bassist Accused of $27M in Fraud - January 18, 2018
- Star-Studded Whiskey Row - January 18, 2018