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AEG Facilities and SMG complete transaction to create ASM Global and expand footprint in Australia

AEG Facilities, the venue management affiliate of Anschutz Entertainment Group (AEG), and SMG, a portfolio company of Onex and its affiliated funds, have announced that they completed their business combination to create a new, standalone global facility management and venue services company, ASM Global (ASM).

 

ASM is headquartered in Los Angeles, CA, with key operations based in West Conshohocken, PA, a suburb of Philadelphia. The company also has corporate offices in London, England; Manchester, England; Brisbane, Australia; and Sao Paulo, Brazil. ASM operates a diversified portfolio of arenas, stadiums, convention and exhibition centres, performing arts centres, theatres and other venues with more than 300 facilities across five continents.
Bob Newman, former President of AEG Facilities, has been named President and CEO of ASM, effective immediately. Prior to joining AEG Facilities, Mr. Newman spent more than 20 years at SMG, last serving as a regional Vice President for the company. Wes Westley, former CEO and President of SMG, will focus his efforts on key strategic growth initiatives and ensuring a seamless integration.
Bob Newman, President & CEO of ASM, said:
This marks the beginning of an exciting new chapter in our industry and one that will establish a new standard of excellence in managing live experiences. Bringing together the combined global expertise of each company with the best content and cutting-edge technologies, we will be able to realize the full potential of the world’s greatest spaces, places and events, create amazing experiences for guests, offer exciting new opportunities to employees and deliver the highest value for all stakeholders. Equally important, our deep bench of talent and shared resources will enable ASM to accelerate innovation and capitalize on the growing market opportunities.
Wes Wesley added:
I am very proud to have had the opportunity to lead such an incredible organization as SMG. We have a long history of working closely with our public and private partners and are confident in our ability to continue to meet and exceed their expectations. ASM’s focus moving forward will be on providing added value and best-in-class services to its customers. We are well-prepared for a seamless integration process.
Onex, AEG and their respective affiliates are contributing their entire equity investments in SMG and AEG Facilities, respectively, into the combined business and are now equal co-owners of ASM.

New ASM Global Expands Footprint In Australia

ASM Global have also announced a strategic investment of a 25% shareholding in Sydney-based Stadium operator VenuesLive from Techfront Australia. This announcement marks ASM Global’s further expansion in the Australian market.

 

 

ASM Global, the premier venue management and services company, was formed through the merger of AEG Facilities and SMG. The company spans five continents with a broad and diversified portfolio of more than 300 of the world’s most prestigious arenas, stadiums, convention and exhibition centers and performing arts venues.

 

 

Harvey Lister, Chairman and CEO of ASM Global in the Asia Pacific region, said:

ASM Global’s investment in VenuesLive is an exciting development that will guarantee more world-class music, family entertainment and sport content across a greater number of venues throughout Australia going forward.

 

 

As a result of this investment, Mr. Lister will join the Board of VenuesLive, although the day-to-day business of the company will remain under the direction of current directors and joint majority shareholders, Daryl Kerry and Steve Heytman.

 

 

 

In Asia Pacific, ASM Global currently manages the 12,000-seat Brisbane Entertainment Centre, the 52,500-seat Suncorp Stadium, the 21,000-seat Qudos Bank Arena in Sydney, the 8,500-seat First State Super Theatre at ICC Sydney, the 15,000-seat RAC Arena in Perth, the recently opened 17,000-seat Coca-Cola Arena in Dubai; mid-sized arena spaces in Brisbane, Newcastle, Cairns, Darwin and soon Christchurch; and convention and exhibition venues in Sydney, Brisbane, Cairns, Darwin, Newcastle, Christchurch, Kuala Lumpur and Muscat in Oman. The company is also the proponent for the 18,000-capacity Brisbane Live arena in the State’s capital.

 

 

VenuesLive is a leading provider of management and hospitality services to venues and events. It operates three of Australia’s most iconic stadiums – the 83,500-seat ANZ Stadium (soon to undergo a major refurbishment) and the 30,000-seat Bankwest Stadium in Sydney, as well as the 60,000-seat Optus Stadium in Perth.

 

 

Approval for the acquisition has been granted by the government owners of the three stadiums.

 

 

Bob Newman, President and CEO of ASM Global, said the new shareholding arrangement would offer VenuesLive the opportunity to benefit from ASM Global’s worldwide network of partnerships with leading entertainment and sports providers, which will bring high profile content to the region:

The real winners from these developments are the fans who will be able to access a greater range of world-class content, services, amenities and technologies in more venues than ever before, across Australia.

 

 

Daryl Kerry, Managing Director of VenuesLive, welcomed the investment by ASM Global:

We are excited about ASM Global’s investment in VenuesLive.We look forward to the benefits that ASM Global’s investment in VenuesLive will bring, particularly in delivering additional events to the stadia we manage.

 

 

A significant number of representatives from ASM Global and Anschutz Entertainment Group (AEG) will be both speaking and present at ALSD International – Europe’s one and only event dedicated to the Premium Seat & Hospitality sector – is coming to Croke Park Stadium in Dublin, Ireland, this October 28-29, where some 50+ high-calibre experts from across Europe and North America will be providing insights on how to increase revenues through new builds, renovations and service expansions, as well as via the latest F&B and technology offerings. 

 

 

#ALSDInternational – Europe’s leading event dedicated to the Premium Seat & Hospitality sector

 

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