Following his Initial announcement on November 7 from last year, premium live experiences company Legends completed the acquisition of live event and venue management company ASM GlobalAnnounced on August 23, the finalized agreement combines two leading premium live events companies while expanding Legends’ service portfolio and geographic reach across five continents.
Financial terms of the transaction were not disclosed and ASM Global will continue to operate under its name for the time being.
With this acquisition, ASM Global’s venue management and strategy capabilities are poised to significantly enhance Legends’ portfolio of venue services, positioning the company to meet the growing needs of sports organizations, entertainment venues, convention centers and attractions around the world. These offerings now include project design and planning, venue development and management, content and event booking, revenue strategy, sales execution, omnichannel merchandising and hospitality services.
“The next era of Legends begins now,” said Dan Levy, CEO of Legends. “Over the past 15 years, we have developed an unmatched solution to deliver a superior fan experience and help our partners grow. We are proud to add ASM Global to deliver even better experiences and value to our global partners, setting the standard in sports and entertainment.”
Founded in 2008, Legends provides site planning and project management, premium sales, sponsorship, hospitality and merchandise services to many of the world’s leading sports, entertainment and attractions brands, including SoFi Stadium, One World Observatory, Dallas Cowboys, FC Barcelona, University of Notre Dame, New York Yankees, Real Madrid and Ryder Cup, as well as leagues and properties such as the NFL, MLB, NASCAR, PGA of America and the FIFA World Cup.
The company has six divisions operating worldwide (Global Planning, Global Sales, Global Partnerships, Hospitality, Global Merchandise and Global Technology Solutions) and works with clients across all industries, including professional sports, academia, attractions, entertainment and leisure.
Boasting a portfolio of over 350 venues worldwide, ASM Global provides live event and management services for convention centres, arenas, stadiums and performance venues such as the ICC Sydney Convention Centre, Avicii Arena in Stockholm, OVO Arena Wembley in London, Coca-Cola Arena in Dubai and State Farm Stadium, to name a few.
In the United States, the company operates a number of major convention centers, including the Moscone Center in San Francisco, Huntington Place in Detroit, the Los Angeles Convention Center, McCormick Place in Chicago and the Colorado Convention Center in Denver.
“For many years, one of ASM Global’s mantras has been that ‘the future is now,’” said Ron Bension, president and CEO of ASM Global. “By joining Legends, that future has not only arrived, but it couldn’t be brighter. The opportunities created by our companies’ collective capabilities will not only enhance the success of our partners, customers and projects around the world, but also that of the industry as a whole.”
Sixth Street, a leading global investment firm with over $75 billion in assets under management, is the majority investor in Legends in partnership with YGE Holdings, LLC, a subsidiary of the New York Yankees, and the Jerry Jones family, owners of the Dallas Cowboys. As part of the transaction, former ASM Global shareholders Onex and AEG have sold their entire ownership interests.
Moelis & Company LLC and BofA Securities, Inc. acted as financial advisors to Legends, and Ropes & Gray LLP and Cleary Gottlieb Steen & Hamilton LLP acted as legal advisors. Goldman Sachs and Jefferies acted as financial advisors to ASM Global, and Latham & Watkins LLP, Hogan Lovells and Arnold & Porter acted as legal advisors. Gibson, Dunn & Crutcher LLP acted as legal advisors to YGE Holdings, LLC and Jones Concessions LP.
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