NEW YORK (CelebrityAccess) — Following an anti-competition review by the U.S. Department of Justice, Legends announced it has completed the acquisition of venue management giant ASM Global, completing a $2.3b dollar merger of the two companies.
The combined company now includes ASM Global’s extensive portfolio of venues with Legend’s expertise in partnerships, branding, premium guest experiences, event booking, venue planning, development, and management.
Following the acquisition, ASM Global will continue to operate, for now at least, under its own name.
“The next era of Legends starts now,” said Dan Levy, CEO of Legends. “Over the course of 15 years, we have developed an unmatched solution to deliver a superior fan experience and help our partners grow. We are proud to add ASM Global to deliver even better experiences and value for our global partners, setting the standard in sports and entertainment.”
“One of our ASM Global mantras for a number of years has been ‘the future is now.’ By joining Legends, that future has not only arrived, but it couldn’t be brighter. The opportunities created by our companies’ collective capabilities will elevate not only the success of our partners, clients, and projects worldwide, but the industry as a whole,” added ASM Global’s Ron Benison.
Sixth Street, a private equity firm with more than $75 billion in assets under management, is the majority investor in Legends in partnership with YGE Holdings, LLC, an affiliate of the New York Yankees, and Jones Concessions LP, a Jerry Jones family company. As part of the transaction, previous ASM Global equity holders Onex and AEG have sold their full ownership interests.
Moelis & Company LLC and BofA Securities, Inc. served as financial advisors to Legends, and Ropes & Gray LLP and Cleary Gottlieb Steen & Hamilton LLP served as its legal counsel. Goldman Sachs and Jefferies served as financial advisors to ASM Global, and Latham & Watkins LLP, Hogan Lovells, and Arnold & Porter served as its legal counsel. Gibson, Dunn & Crutcher LLP served as legal counsel to YGE Holdings, LLC and Jones Concessions LP.
