Tait, the Lititz-based firm that produces stages, sets and show-control systems for spectacular live events worldwide, has acquired a Florida firm that creates spectacular places and experiences.
A price was not disclosed.
Tait said Thursday it has purchased Orlando-based ITEC Entertainment, a firm that designs theme parks, resorts, cultural attractions, themed dining and shopping, resorts, casinos and real estate developments, as well as rides and shows.
Its client list includes Walt Disney, Universal Studios, Madison Square Garden Ventures, LEGO, Wanda Group and Dubai Parks. Some of its projects include “Batman: The Ride” at Six Flags Theme Park in St. Louis, “Twister: Ride it Out” at Universal Studios in Orlando and Munity Bay entertainment center in Las Vegas.
Founded in 1985, ITEC has about 85 employees. ITEC does not disclose its annual revenue.
In making the announcement, Tait described ITEC’s expertise as complementing its own, enabling the acquisition to create “the most comprehensive end-to-end developer of entertainment projects and solutions.”
As a result, the combination “offers a unique opportunity for both companies to achieve significant, sustained growth,” Tait said.
Tait, founded in 1978, serves touring rock performers such as U2 and Taylor Swift, cruise ships including Princess Cruises, events such as the Super Bowl, Olympics, Academy Awards and Fortnite World Cup esports championship, corporate clients such as Nike, theaters such as The Metropolitan Opera House and touring entertainers such as Cirque du Soliel.
Tait’s expertise includes designing and manufacturing the complex staging, scenery and sets that dazzle audiences, as well as the proprietary, automated controls that make a show’s many physical components operate flawlessly.
It has 900 employees worldwide; none remain on furlough from the COVID-19 pandemic, a Tait spokeswoman said. Tait does not disclose its annual revenue either.
Like ITEC, Tait’s client list also includes Orlando theme parks Walt Disney and Universal Studios. Now, however, Tait will use space in ITEC’s Orlando headquarters to “add capabilities” to its work with Orlando-area clients.
The transaction is the seventh acquisition by Tait since 2012, according to Tait’s website. Locally, Tait also is known for co-developing the Rock Lititz campus in Warwick Township for live-event businesses, although Tait itself does not occupy any of Rock Lititz’s buildings. It operates elsewhere in Lititz.