Category leaders, resilience through disruption and tech investment are key in entertainment and B2B events investing, the pair tell PE Hub. Providence agreed in August to sell ATG Entertainment, operating 70 venues hosting shows such as Harry Potter and the Cursed Child, for around £4.5 billion ($6.1 billion) versus an entry of roughly £350 million. In B2B, alongside co-owner Searchlight Capital Partners, Providence agreed in June to sell Hyve for £1.3 billion and in May reinvested in Closer Still Media as Searchlight became co-owner at a £1.3 billion valuation.

In its last 12 sale exits, Providence increased enterprise value by 7x on average and generated distributions representing 24 percent of prior year NAV per year to LPs since early 2024. Tisdale and Sudo highlighted the importance of category leaders, underwriting through disruption, tech investment, global expansion and exit timing. Closer Still expanded from three to four verticals since Providence acquired a majority stake in 2018, with adjusted EBITDA growing from around £20 million to £78 million in 2025.

Sudo noted that complex products like MRI machines still require in-person trade shows to meet serious buyers.