GCL Announces Strategic Controlling Investment from Providence Equity Partners
NEW YORK--(BUSINESS WIRE)--GCL (the 'Company'), a global leader in live events and luxury goods specialty logistics, today announced a strategic investment from Providence Equity Partners, L.L.C ('Providence'), a premier private equity firm with significant experience investing in and supporting the growth of companies in the entertainment and media sectors.
Providence will become the majority shareholder of GCL, and ATL Partners, the current majority owner, will retain a minority equity stake in the Company. GCL will continue to be led by President and CEO Daniel Rosenthal, with global headquarters in New York. Financial terms of the transaction were not disclosed, and the transaction is subject to customary closing conditions.
Founded in 1978, GCL is the world's premier mission-critical logistics provider in its sectors, operating in the service-sensitive live events and luxury goods end markets through a roster of brands including Rock-it Cargo, DIETL, and CARS. Completing more than 10,000 projects per year in over 160 countries, GCL enables some of the world's most iconic moments including coveted live music tours, global mega-events and tournaments, sports broadcasting, film and television production, and experiential events. As an example of its capabilities, Rock-it Cargo recently entered into a multi-year partnership as the Official Logistics Provider of the FIFA World Cup 2026 and the new FIFA Club World Cup starting next month. GCL also is the most trusted global partner in transporting, storing, and protecting its customers' most prized possessions, from storied fine art collections at auction houses, galleries, museums, and art fairs, to luxury vehicles used in car shows, rallies, or on tracks around the world.
'GCL is a very special company supported by an incredible family of employees, customers and partners across its global network. Providence's commitment validates our customer focus and growth strategy and will expand our capabilities further in the years ahead,' said Daniel Rosenthal, GCL President and CEO. 'The Providence team's proven track record and depth of relationships in our end markets make them the ideal partner for the next chapter of serving our customers. I'm also extremely grateful to the team at ATL Partners for their deep passion to propel our growth strategy. Under ATL's active stewardship during the last seven years, GCL has successfully expanded into several adjacent verticals and is the clear market leader in live events and luxury goods logistics.'
'For nearly 50 years, GCL has earned the trust of the world's biggest names in the live events sector and established a leading position in all of the end markets it serves,' said Scott Marimow, Managing Director at Providence. 'We have a deep appreciation for and understanding of the business, especially given our long history of investing in entertainment and sports. We look forward to partnering with Dan and the entire GCL team to help capitalize on organic and inorganic growth opportunities ahead.'
Providence has nearly three decades of experience investing in and creating lasting value at a wide range of companies in the live event space. Current and previous live events- and sports-related investments include Ambassador Theatre Group, Learfield, Major League Soccer, PADI, Populous, Real Madrid, Superstruct, Sweetwater, TAIT, Topgolf, Yankees Entertainment and Sports Network, Wasserman and World Triathlon Corporation (Ironman).
Sanjay Arora, a Partner at ATL Partners, added, 'Since ATL invested in GCL in 2018, GCL has transformed itself into a premier business focused on the high growth live event and luxury goods markets. Dan and his management team have positioned the company well for its next phase of growth by expanding into new verticals, adding operational capabilities, and executing strategic acquisitions. We look forward to supporting the next step in GCL's journey alongside Providence and the GCL management team.'
Jefferies LLC, J.P. Morgan Securities LLC and Moelis & Company LLC served as financial advisors and Gibson, Dunn & Crutcher LLP served as legal advisor to the Company. Harris Williams served as financial advisor and Kirkland & Ellis LLP served as legal advisor to Providence.
About GCL
GCL (Global Critical Logistics) is the market leader in two expansive logistics and project management sectors across the globe: live events, encompassing live music, sports and broadcasting, film and TV, and experiential events and exhibitions; and luxury goods, focused on fine art, automotive, and fashion. The company, which began in 1978 serving Led Zeppelin and Uriah Heep, operates a global network across a range of verticals through a platform of brands including Rock-it Cargo, DIETL, CARS, SOS Global, and Dynamic International. GCL's global team of experts manages bespoke global logistics through end-to-end services including multimodal freight, event logistics planning, warehousing and storage, customs brokerage, risk mitigation, and insurance. This service delivery leverages an unparalleled global network with 60+ offices and projects in more than 160 countries. GCL is the chosen provider for reliability and efficiency where failure is not an option for a customer's most prized events and possessions.
About Providence Equity Partners
Providence Equity Partners is a specialist private equity investment firm focused on growth-oriented media, communications, education and technology companies across North America and Europe. Providence combines its partnership approach to investing with deep industry expertise to help management teams build exceptional businesses and generate attractive returns. Since its founding in 1989, Providence has invested over $40 billion across more than 180 private equity portfolio companies. With its headquarters in Providence, RI, the firm also has offices in New York, London, Boston and Atlanta. For more information, please visit www.provequity.com.
About ATL Partners
Founded in 2014, ATL Partners is a premier sector-focused private equity firm that invests in commercial aerospace, national security, and transportation & logistics companies. ATL brings deep sector expertise to its investment approach with experienced investment professionals and strong operating executives who have decades of combined experience in each of ATL's core sectors. For more information about ATL Partners, visit https://www.atlpartners.com.
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