AEG Facilities and SMG Complete Merger to Become ASM Global
Venue management companies AEG Facilities and SMG have completed their merger to create ASM Global, a new, stand-alone global facility management and venue services company that now operates more than 300 arenas, stadiums, convention centers and performing arts centers across five continents.
The completion of this transaction comes eight months after the companies announced the proposed merger. Onex, of which SMG is a portfolio company, and AEG’s subsidiary are now equal co-owners of ASM, according to ASM officials.
Headquartered in Los Angeles, with key operations based in the Philadelphia suburb of West Conshohocken, ASM has corporate offices in London and Manchester, England; Brisbane, Australia; and Sao Paulo.
Bob Newman, former president of AEG Facilities, has taken the helm as ASM’s president and CEO. Prior to joining AEG Facilities, Newman spent more than 20 years at SMG, last serving as a regional vice president for the company.
“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,” Newman said.
He added, “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.”
Newman said ASM’s deep bench of talent and shared resources will enable the new company to accelerate innovation and capitalize on growing market opportunities.
Meanwhile, Wes Westley, former CEO and president of SMG, has joined ASM’s board of directors and will focus his efforts on key strategic growth initiatives and ensuring a seamless integration of the two companies.
“I am very proud to have had the opportunity to lead such an incredible organization as SMG,” Westley said. “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.”
He added, “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.”
With the completion of this merger, the new ASM Global now boasts 61,000 employees around the globe.
AEG will retain ownership of its real estate holdings outside of this venture, including its entertainment districts and owned venues in Los Angeles; London; Berlin and Hamburg, Germany, as well as its extensive development, sports, music and sponsorship divisions.