AEG Facilities and SMG have completed their merger to create ASM Global.
The deal was cleared in the UK by the Competition and Markets Authority this month.
ASM operates a portfolio of arenas, stadiums, convention and exhibition centers, performing arts centres, theatres and other venues with more than 300 facilities across five continents.
AEG Facilities is the venue management subsidiary of AEG, while Onex-owned SMG is the parent company of Manchester-based SMG Europe. Live Nation was linked with a move for SMG prior to its acquisition by Onex in early 2018.
The new, standalone global facility management and venue services company has its HQ in LA, along with key operations and corporate offices in Philadelphia, London, Manchester, Brisbane and Sao Paulo.
Bob Newman, former president of AEG Facilities, has been named president and CEO of ASM, effective immediately.
Wes Westley, former CEO and president of SMG, will focus his efforts on key strategic growth initiatives and the integration process.
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 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. Equally important, our deep bench of talent and shared resources will enable ASM to accelerate innovation and capitalize on the growing market opportunities.”
Westley added: "I am very proud to have had the opportunity to lead such an incredible organisation as SMG. 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.”
Onex and AEG are now equal co-owners of ASM.