Legends, the premium experiences company, has announced the acquisition of major venue management and events company ASM Global.
The purchase of ASM Global aims to utilize its venue management capabilities to enhance Legends’ services portfolio, expanding its geographic reach and range of services.
The experiences company believes that by acquiring ASM Global, it will be able to support its clients from the project conception and planning stages to venue development and management, content and event booking, revenue strategy and sales execution, as well as omnichannel merchandising and hospitality services.
As part of the deal, current ASM Global equity holders Onex and AEG will sell their ownership interests, while ASM Global will continue to serve existing AEG venues.
The financial terms of the transaction were not disclosed.
Moelis and Company and BofA Securities are serving as financial advisors to Legends, and Ropes and Gray is serving as its legal counsel.
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ASM Global’s financial advisors are Goldman Sachs and Jefferies, and its legal advisors are Latham and Watkins, Hogan Lovells, and Arnold & Porter.
In September, Legends began talks with a group of private credit firms to finance the acquisition.
Shervin Mirhashemi, chief executive of Legends, said: “Legends and ASM Global are both deeply client-centric and fan-focused and together we will deliver maximum value for our global client roster with even greater support and service options.
“Welcoming ASM Global to Legends is a capstone achievement in our 15-year journey toward becoming the world’s trusted partner for connecting people with the brands and communities that matter most to them, and for helping our clients create memorable moments that keep their fans and patrons returning time and again.”
Ron Bension, president and chief executive of ASM Global, said: “We’re thrilled to join Legends, which shares our client-first approach and advances our goal of offering our partner organizations a truly seamless experience while driving the growth of their businesses.
“Our clients will benefit from Legends’ robust services, innovation, technology, and global partnerships which, combined with ASM Global’s venue management and content and event booking expertise, will provide our clients with locally tailored solutions and cutting-edge technologies to achieve outstanding fan experiences and improved venue owner results.”
Legends provides services to sports brands including Real Madrid, Dallas Cowboys, FC Barcelona, New York Yankees, Ryder Cup, the NFL, MLB, Nascar, PGA of America, and FIFA World Cup.
ASM Global manages live event entertainment venues including ICC Sydney Convention Center, Avicii Arena in Stockholm, OVO Arena Wembley in London, Coca-Cola Arena in Dubai, and State Farm Stadium in Arizona.