November 14, 2018 / 10:02 PM

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SFX Purchases 50% Stake in Alda Events, Dutch Dance Music Event Promoter

 

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Dance music media and entertainment company SFX Entertainment has expanded its empire once again by purchasing a 50 percent stake in Dutch dance music event company Alda Events. Founded by David Lewis and Allan Hardenberg in 2007, Alda Events hosts events and tours like Armin Only, I AM Hardwell, Amsterdam Music Festival during Amsterdam Dance Event and A State of Trance. Alda Events brought 130 shows to 33 countries throughout 2013 and 2014, which includes multi-day festivals and one-night-only events.

David Lewis is co-founder of Armin van Buuren's record label Armada Recordings.

According to the press release, the Amsterdam-based company will continue to operate as an independent company under its current CEO Hardenberg. Hardenberg will become the managing director of SFX Global Touring.

Speaking on the new partnership, Hardenberg said, "It has been our vision to provide dance lovers with high-quality musical experiences and dance events, and SFX shares and encourages this vision. It cuts to the core of our overriding message — music is what feelings sound like."

SFX's taste for acquisitions has cooled somewhat in 2014, as it has focused on returning a profit and satisfying its investors. But the new acquisition of Alda Events shows SFX and CEO Robert F.X. Sillerman have the appetite and the capital to continue the big spending on other companies.

"David Lewis and Allan Hardenberg are true innovators when it comes to creating and executing dance music events and artist tours, and we are thrilled they are joining the SFX family," said Sillerman, chairman and CEO of SFX Entertainment. "Combining ALDA Events' international touring expertise and extensive roster of artists with SFX's comprehensive portfolio enables both companies to bring bigger, better EMC experiences to fans all around the globe."

SFX is currently undergoing a large restructuring that, according to Billboard, Sillerman says the company is "In the process of determining where there is duplication, as well as where we can enter new businesses by reallocating people."

We will see where Alda Events fits into the grand scheme of things with SFX and their growing portfolio of companies, but there is likely to be duplication. The SFX empire is growing.

Watch Hardwell's set on his I AM Hardwell tour produced by Alda Events below:

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