AEG Facilities, the venue management affiliate of Anschutz Entertainment Group, and SMG, a portfolio company of Onex and its affiliated funds, today completed their business combination to create a new, standalone global facility management and venue services company, ASM Global (“ASM”).
ASM is headquartered in Los Angeles, CA, with key operations based in West Conshohocken, PA, a suburb of Philadelphia. The company also has corporate offices in London, England; Manchester, England; Brisbane, Australia; and Sao Paulo, Brazil. ASM operates a portfolio of arenas, stadiums, convention and exhibition centres, performing arts centres, theatres and other venues with more than 300 facilities across five continents.
Bob Newman, former president of AEG Facilities, has been named president and CEO of ASM, effective immediately. 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 CEO and president of SMG, will focus his efforts on key strategic growth initiatives and ensuring a seamless integration.
Bob Newman, president and CEO of ASM, 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.”
Wes Westley added: “I am very proud to have had the opportunity to lead such an incredible organization 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, 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.