ASM Global, a global facility management and venue services company that will establish a “new standard of excellence” in managing live experiences, has been officially formed today (Tuesday) following the completion of a merger between AEG Facilities and SMG.
The venue management affiliate of Anschutz Entertainment Group and portfolio company of investment management firm Onex and its affiliated funds first announced their intention to combine back in February.
With the launch of ASM Global, Bob Newman, former president of AEG Facilities, will serve as president and chief executive of the new venture. Prior to joining AEG Facilities, Newman spent more than 20 years at SMG, last serving as a regional vice-president for the company. Wes Westley, former chief executive and president of SMG, will focus his efforts on key strategic growth initiatives and ensuring a seamless integration for the two firms.
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 headquartered in Los Angeles, with key operations based in West Conshohocken, a suburb of Philadelphia. The company also has corporate offices in the English cities of London and Manchester; Brisbane, Australia; and Sao Paulo, Brazil.
ASM will operate a portfolio of arenas, stadiums and other venues spanning more than 300 facilities across five continents. These include Brooklyn’s Barclays Center, New Orleans’ Mercedes-Benz Superdome, Manchester Arena and Dubai’s recently-opened Coca-Cola Arena.
Newman said: “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 realise 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.
“Equally important, our deep bench of talent and shared resources will enable ASM to accelerate innovation and capitalise on the growing market opportunities.”
Westley added: “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.”