AEG-SMG merger give birth to ASM Global

Article posted by Coliseum, October 3^rd, 2019

Image: ASM Global

With the AEG Facilities and SMG amalgamation complete, a new company going by the name of ASM Global was formed recently. This global facility management and venue services company will set a “new standard of excellence” in managing live experiences.

The first hint to merge was given way back in February by the venue management affiliate of Anschutz Entertainment Group and portfolio company of investment management firm Onex and its affiliated funds.

Bob Newman will hold the reins of ASM Global as the President and Chief Executive of the new venture. Newman was earlier serving as the President of AEG Facilities. Prior to that, he was with SMG for more than 20 years, last serving in the capacity of regional Vice-President of the company. Wes Westley, former Chief Executive and President of SMG will consolidate all his efforts to ensure a smooth integration of the two firms and key strategic growth initiatives.

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.

ASM will be based in Los Angeles and major operations will be done from West Conshohocken, a suburb of Philadelphia. The company also boasts corporate offices in the English cities of London and Manchester; Brisbane, Australia; and Sao Paulo, Brazil.

Arenas, stadiums and other venues extending over more than 300 facilities across five continents will be under the purview of ASM. It includes the likes of Brooklyn’s Barclays Center, New Orleans’ Mercedes-Benz Superdome, Manchester Arena and Dubai’s recently-opened Coca-Cola Arena.

Said Newman, “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.”

He added, “Equally important, our deep bench of talent and shared resources will enable ASM to accelerate innovation and capitalize on the growing market opportunities.”

Westley informed, “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.”

Continue to follow Coliseum for latest updates on venues business news. Coliseum is dedicated towards building the best global community of sports and entertainment venue executives and professionals creating better and more profitable venues.