The investment group behind the Avant Gardner night club and venue in Brooklyn purchased New York promoter Made Event and its massive Electric Zoo festival from LiveStyle for $15 million earlier this month, sources tell Billboard.
Launched by Long Island City husband-wife team Mike Bindra and Laura De Palma, Made Event is best known for promoting Electric Zoo, a 100,000-person rave held annually on Randall’s Island. In 2014, Made Event was acquired by Bob Sillerman‘s electronic dance music conglomerate SFX, which filed for bankruptcy in 2016 and eventually landed in the hands of senior creditor Andrew Axelrod. SFX was rebranded as LiveStyle by former chief executive Randy Phillips, who managed the festival properties for Axelrod and led efforts to sell off SFX’s assets to new buyers. Made Event was the last U.S. festival property held by LiveStyle to be sold.
Avant Gardner was co-founded by Swiss concert promoter Billy Bildstein, who now serves as the company’s chief creative officer, and Philipp Wiederkehr, a Swiss banker who operates a multi-million dollar private equity and asset management firm as well as a sister company focused on real estate investments. In 2017, the men opened the 80,000-square foot Avant Gardner, an indoor and outdoor nightclub and EDM venue in Brooklyn’s East Williamsburg neighborhood that houses four separate performance spaces — a 5,000 capacity outdoor space known as the Brooklyn Mirage, a 1,200 capacity indoor performance hall, the 800-person Kings Hall and a 150-capacity private dance space. The space is often rented by outside promoters including Live Nation and is a popular venue for touring acts like Tiesto, who is scheduled to perform there July 14 and 15
Representatives for Livestyle and Avant Gardner declined to comment for this story.