• Contact

facebook
linkedin
tumblr
twitter
vimeo
rss

  • Home
  • About
  • Contact



AEG Facilities, SMG Announce Blockbuster Industry Merger

February 08, 2019
by R.V. Baugus
#aegfacilities, smg
Comments are off

From Business Wire

AEG Facilities, the venue management subsidiary of AEG, and SMG, an Onex portfolio company, announced they have signed a definitive agreement to merge. This combination will create a new, standalone global facility management and venue services company that will operate as ASM Global (“ASM”). Onex and AEG’s subsidiary will each own 50% of the company following the completion of the transaction. The terms of the transaction were not disclosed.

ASM will be headquartered in Los Angeles with key operations based in West Conshohocken, Pennsylvania, a suburb of Philadelphia. Led by the most experienced team in the industry, the company will operate a diversified portfolio of arenas, stadiums, convention centers, and performing arts centers, with more than 310 venues across five continents.

Wes Westley, Chief Executive Officer and President of SMG, said, “This merger is a major step for our industry. We are excited to bring together these complementary businesses to further elevate the standard of excellence in venue management. We plan to accelerate innovation by combining our expertise to deliver increased value and offer enhanced capabilities to municipalities and venue owners worldwide. At the same time, we expect that this transaction will offer employees at both our corporate headquarters and field operations tremendous new opportunities.”

Bob Newman, current President of AEG Facilities and formerly a Regional Vice President at SMG, said, “It is an honor and privilege to be a part of this exciting new company, which brings together the two organizations where I have worked for the bulk of my professional career. This transaction draws upon the depth of our combined talent and resources to create an organization that will deliver value and long-term success, as well as innovative services to our clients around the world.”

Following the completion of the transaction, Newman will be named President and CEO of ASM. Westley will join ASM’s Board of Directors, where he will actively support the merger integration.

Dan Beckerman, President and Chief Executive Officer of AEG, said, “AEG Facilities has flourished under Bob’s leadership since it was established a decade ago and this combination will position ASM for growth by joining the resources and talents of these two companies. ASM will offer an impressive array of capabilities that will accelerate the development and deployment of new services and bring diverse business, sports and entertainment experiences to municipalities, partners, and fans around the world.”

Amir Motamedi, a Managing Director of Onex, added, “With Wes at the helm, SMG became a gold standard in venue management. We are grateful for his stewardship over the last 25 years and look forward to his continued involvement on the board. Looking forward, we are thrilled to be partnering with Bob Newman and the talented AEG team to create a larger, more diverse company to better serve ASM’s clients.”

AEG will retain ownership of its real estate holdings outside of this venture, including its entertainment districts and owned venues in Los Angeles, London, Hamburg, and Berlin, as well as its extensive development, sports, music, and sponsorship divisions. Onex is contributing its entire equity investment in SMG into the merger. The transaction is expected to be completed later this year subject to customary closing conditions and regulatory approvals.

Please follow IAVM for further updates and comments regarding the merger.

R.V. Baugus
About the Author
R.V. Baugus is senior editor of IAVM's magazine, Venue Professional. Baugus is a 12-time Quill Award winner from the Dallas chapter of the International Association of Business Communicators (IABC) and Silver Quill recipient from the Southern Region of IABC. He is devoted in his community by serving as a deacon at his church, a facilitator leading a Grief Share class, high school football public address announcer for the Irving ISD and basketball PA announcer for Nimitz High School.
Social Share
  • google-share

Do you want to receive a Front Row News weekly digest?

Categories

  • Allied (802)
  • Architecture (139)
  • Arenas (712)
  • Career (844)
  • Convention Centers (838)
  • Education (582)
  • Events (1,440)
  • Food & Beverage (178)
  • Foundation (111)
  • Guest Experience (1,401)
  • Industry News (2,113)
  • Leadership (1,743)
  • Marketing (134)
  • Membership (1,853)
  • Music (175)
  • Performing Arts Centers (447)
  • Professional Development (377)
  • Research (119)
  • Safety & Security (425)
  • Sports (707)
  • Stadiums (581)
  • Student (157)
  • Technology (482)
  • Ticketing (82)
  • Touring (73)
  • Trends (330)
  • Uncategorized (444)
  • Universities (207)
  • Video (24)
  • Young Professional (197)

Twitter Feed

  • Twitter feed loading

Recent Posts

  • North Carolina State University Names Daktronics for Project at Wayne Day Family Field at Carter-Finley Stadium
  • Gus Le Grand Named New GM at Toyota Arena
  • In Memoriam: Thomas D. Minter
  • Theater Design Creates New Website
  • IAEE Expands CEM Learning Program to Include On-Demand Courses

Categories

  • Allied
  • Architecture
  • Arenas
  • Career
  • Convention Centers
  • Education
  • Events
  • Food & Beverage
  • Foundation
  • Guest Experience
  • Industry News
  • Leadership
  • Marketing
  • Membership
  • Music
  • Performing Arts Centers
  • Professional Development
  • Research
  • Safety & Security
  • Sports
  • Stadiums
  • Student
  • Technology
  • Ticketing
  • Touring
  • Trends
  • Uncategorized
  • Universities
  • Video
  • Young Professional

Archives

  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • May 2012
  • March 2012
  • December 2011
  • November 2011
  • October 2011

Recent Comments

  • Allen Johnson on In Memoriam: John C.K. Fuhrmann, CVE
  • Allen Johnson on In Memoriam: Bruce Matthew Lahti
  • R.V. Baugus on In Memoriam: Neil M. Campbell, CVE
  • R.V. Baugus on Hong Kong Convention and Exhibition Centre Opens Doors to First Show Since Pandemic Outbreak
  • Cynthia Tucker on Hong Kong Convention and Exhibition Centre Opens Doors to First Show Since Pandemic Outbreak

© 2001-2013 International Association of Venue Managers, Inc.