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SMG Sold To American Capital

PHILADELPHIA (CelebrityAccess MediaWire) — Venue management powerhouse SMG has been sold to investment firm American Capital.

American Capital invested $631 million in the Philadelphia-based company, which manages more than 200 facilities around the world, purchasing the stakes of food and beverage provider Aramark Corp. and the Pritzker Organization L.L.C.

In addition, Gregg Caren, who left SMG last year to lead sales for Trump Entertainment Resorts’ three Atlantic City, NJ, properties, is returning to serve as Senior VP of Strategic Business.

Caren previously served as SMG’s National Sales and Business Development Executive. –by CelebrityAccess Staff Writers