LOS ANGELES (CelebrityAccess) – AEG’s venue management arm, AEG Facilities, and Onex-owned SMG announced today (Oct. 1) that they have completed their merger to create a single global facility management and venue services company, ASM Global.
First announced in February, the even-split merger of AEG Facilities, owned by AEG, and SMG, a portfolio company of private equity firm Onex, was previously cleared by both the U.K.’s Competition and Markets Authority and the U.S. Department of Justice.
ASM, headquartered in Los Angeles, has key operations based in West Conshohocken, Pennsylvania, as well as offices in London and Manchester, England; Brisbane, Australia; and Sao Paulo, Brazil. ASM’s portfolio includes 310 venues, notably Sydney’s ANZ Stadium, the Mercedes-Benz Superdome in New Orleans, Brooklyn’s Barclays Center, Dubai’s Coca-Cola Arena, Manchester Arena and Lausanne’s Vaudoise Arena, as well as convention and exhibition centers, performing arts centers and theatres.
Bob Newman, former president of AEG Facilities, has been named president and CEO of ASM, effective immediately. Prior to joining AEG Facilities, 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 on strategic growth initiatives and facilitating the integration process.
Of the merger, Newman 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 realise 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 capitalise on the growing market opportunities.”
Westley added: “I am very proud to have had the opportunity to lead such an incredible organisation 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.”
The merger did not include properties and entertainment districts owned by AEG in Los Angeles, London, Hamburg and Berlin, or those under development.
According to the announcement, Onex, AEG and their respective affiliates are contributing their entire equity investments in SMG and AEG Facilities into the combined business and are now equal co-owners of ASM.