LOS ANGELES and TORONTO, Aug. 23, 2024 (GLOBE NEWSWIRE) — AEG, the world’s leading sports and live entertainment company, and Onex, a leading investor and alternative asset manager, today jointly announced the completion of the sale of ASM Global (“ASM”), a global leader in third-party venue and event management, to Legends, a global premium experiences company. The announcement follows the successful completion of the process to obtain the necessary approvals for the sale transaction, which was previously agreed to and announced by the parties in November 2023.
“This transaction is the culmination of our vision to accelerate the growth of ASM and unlock the Company’s substantial business value. This milestone allows us to focus on the continued growth of AEG’s core businesses, including our owned and operated real estate and venues, as well as our live entertainment and ticketing businesses,” said Dan Beckerman, President and CEO of AEG.
“We are pleased to complete our investment in ASM after working with the management team and AEG to grow the business, successfully navigate the pandemic and position it for future success,” said Kosty Gilis and Amir Motamedi, Managing Directors of Onex Partners. “We are confident that Legends will deliver continued growth and differentiated services to its clients around the world in the years to come.”
ASM Global manages a portfolio of live event venues worldwide, providing world-class venue management and operations services. With clients across five continents, ASM Global operates venues that host live events for more than 164 million guests annually. Legends provides a complementary offering of hospitality, event planning and project management, premium distribution, sponsorship and merchandising services for many of the world’s most recognized sports, entertainment and attraction brands.
About AEG
AEG, based in Los Angeles, California, is the world’s leading sports and live entertainment company. The company operates in the following business segments:
- Music through AEG Presents, which is dedicated to all aspects of live contemporary music performance, including the production and promotion of global and regional concert tours, an extensive portfolio of clubs, theaters and other music venues, concerts and special events, and world-renowned festivals such as the Coachella Valley Music and Arts Festival;
- Venues and Real Estate, which develops, owns and operates world-class venues and major sports and entertainment districts such as Crypto.com Arena and LA LIVE, Mercedes Platz in Berlin and The O2 in London;
- Sports, as the world’s largest operator of high-profile sporting events and sports franchises, including the LA Kings, LA Galaxy and the Eisbären Berlin; and
- Global Partnerships oversees the worldwide sales and management of sponsorships, including naming rights, premium seating and other strategic partnerships.
With its global network of venues, portfolio of strong sports and music brands and integrated entertainment districts, AEG entertains more than 160 million guests annually. For more information about AEG, visit www.aegworldwide.com.
About Onex
Onex invests and manages capital on behalf of its shareholders and clients around the world. Since our founding in 1984, we have a long track record of creating value for our clients and shareholders. Our investors include a broad range of global clients, including public and private pension funds, sovereign wealth funds, insurance companies, family offices and high net worth individuals. In total, Onex manages $49 billion in assets, of which $8.5 billion is proprietary investment capital. With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across all of Onex’s platforms.
Onex is listed on the Toronto Stock Exchange under the symbol ONEX. Further information about Onex can be found at www.onex.com. Onex’s securities filings are also available at www.sedarplus.ca.
For more information:
Michael Roth
Vice President, Communications, AEG
Phone: (310) 308-7684
[email protected]
Jill Homenuk
Managing Director – Shareholder
Relationships and Communication, Onex
Phone: (416) 362-7711
