LOS ANGELES & WEST CONSHOHOCKEN, Pa.-Tuesday 1 October 2019 [ AETOS Wire ]
(BUSINESS WIRE)--
AEG Facilities, LLC (“AEG Facilities”), the venue management affiliate
of Anschutz Entertainment Group, Inc. (“AEG”), and SMG, a portfolio
company of Onex (TSX: ONEX) and its affiliated funds, today announced
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 centers, performing arts
centers, theaters 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 and 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
Westley 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.
About ASM Global
ASM
Global is the world’s leading venue management and services company.
The company was formed by the combination of AEG Facilities and SMG,
global leaders in venue and event strategy and management. The company’s
elite venue network spans five continents, with a portfolio of more
than 300 of the world’s most prestigious arenas, stadiums, convention
and exhibition centers, and performing arts venues. From Aberdeen to
Anchorage, and Sydney to Stockholm, its venues connect people through
the unique power of live experiences.
ASM
Global’s diverse portfolio of clients benefit from the company’s depth
of resources and unparalleled experience, expertise and creative
problem-solving. Each day, the company’s 61,000 passionate employees
around the world deliver locally tailored solutions and cutting-edge
technologies to deliver maximum results for venue owners, and
operations, and amazing experiences for guests. By consistently looking
for new ways to envision, innovate and empower the spaces and places
that bring people together, ASM Global elevates the human spirit while
delivering the highest value for all stakeholders. For more information,
please visit www.asmglobal.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191001005413/en/
Contacts
Michael Roth
VP, Communications
mroth@aegworldwide.com
+1 213.742.7155 (office)
+1 310.308.7684 (mobile)
Julia Sznewajs
Res Publica Group
js@respublicagroup.com
+1 312.755.3574 (office)
