A global live events company has announced it has entered into a “definitive agreement” to acquire ATG Entertainment from Providence Equity Partners.
The deal will see Mari take over the operation of ATG’s 70 venues across the UK, the US, Germany and Spain, including 10 in London’s West End and a network of regional theatres.
ATG’s operations also span ticketing and production, producing and co-producing works for the West End and Broadway.
Mari currently owns and operates a global portfolio of events across sports, the arts and entertainment, including Frieze, the Miami Open, Hyde Park Winter Wonderland, and the Hampton Court Palace and Blenheim Palace Festivals.
In October last year, Mari acquired digital ticketing company TodayTix.
The California-based events and experiences company said, following the completion of regulatory approvals and customary closing conditions, it intends to “act as a long-term custodian of ATG’s theatres, investing in their preservation and modernisation alongside an improved audience experience and support for new productions”.
“That commitment will extend across the entire portfolio, from the regional theatres to the West End and Broadway,” it continued.
“Across ATG’s regional network, Mari’s ambition is to build on the role these venues play in their communities, creating new opportunities for local artists and broadening access to live theatre. ATG will continue under its existing brand and leadership and retain its commitment to creative independence.”
The financial terms of the transaction have not been disclosed, though the Financial Times claims the deal may have been worth around £4.5 billion.
‘A long-term bet on where live goes next’
Mari was founded by Hollywood agent Ari Emmanuel, who is the chief executive of entertainment and media agency WME Group, and CEO and executive chairman of sports and entertainment company TKO Group Holdings.
Commenting on the acquisition, Emmanuel said: “I’ve spent my whole career in entertainment, and I started out in theatre. I’ve seen the industry reinvent itself many times, but live has only grown more powerful.
“Nothing connects great talent with audiences more directly. ATG has built one
of the world’s great theatre businesses around that experience. This is a long-term bet on where live goes next.”
Global CEO at ATG Entertainment Melanie Smith said Mari “understands live
entertainment and what matters most to ATG: our theatres, the people behind them and the relationships we have built with producers, artists and audiences.
“That makes Mari the right home for our next chapter. We look forward to this new era and thank Providence for their unwavering support over the past thirteen years.”
‘The right partner’ to build on previous ‘success’
Providence acquired ATG from founders Howard Panter and Rosemary Squire in 2013.
Vice chairman at Providence Andrew Tisdale added: “We’ve been proud to partner with ATG over the past thirteen years as it has grown into one of the world’s leading live entertainment companies.
“Together, we’ve supported its international expansion, invested in iconic venues and strengthened the business through strategic acquisitions. Central to that success has been ATG’s fantastic team, which has consistently expanded during our ownership and has been instrumental in driving the company’s growth.
“We believe ATG is well positioned for its next chapter and that Mari is the right partner to build on that success. We wish the entire ATG team all the best.”
