Nordhaven advised the owners of the Palmesus Festival in the sale to Superstruct Entertainment

18 june 2021

The Palmesus festival – Scandinavia’s biggest beach party – has been acquired by Superstruct Entertainment, a live entertainment consortium. Simultaneously, Nakatomi Enterprises, the owners of Palmesus AS, has reinvested a significant amount into Superstruct Entertainment.

“By becoming a part of the Superstruct consortium, Palmesus will benefit from strengthened solidity, which both the festival and the festival guests will benefit from in years to come. We are simply moving from owning a big share of something a little smaller, to owning a smaller share of something very big.”
- Leif Fosselie, founder and CEO of Palmesus

About Palmesus:
Founded as a small friends of friends party in 2009, Palmesus has grown to the biggest beach festival in Scandinavia – located on the beach right in the city center of Kristiansand in southern Norway, with more than 40,000 guests in 2019. The festival has not been held since 2019 due to COVID-19 restrictions. In 2019 Palmesus, through the festival and other year around events, generated revenues of NOKm ~80 with EBITDA of NOKm ~14. Making Palmesus one of the few festivals in Norway that generates a significant profit. The Palmesus owner, Nakatomi Enterprises, is owned by Leif Fosselie and Lund Gruppen.

About Superstruct Entertainment:
Superstruct is a private equity backed group that owns several festivals and live entertainment events, mainly in Europe. Superstruct’s Nordic music festival portfolio includes the Oslo based Øya-festivalen, Helsinki based Flow-festival and Northside and Tinderbox being held in Denmark (Aarhus and Odense, respectively). Superstruct is backed by the leading private equity firm Providence Equity.

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