AEG Facilities and SMG are merging, with the new venue management combination to be called ASM Global. The new standalone company will be based in L.A., manage a combined 310 venues and have approximately 50,000 employees, likely making it the largest building operator in the world. “It's an opportunity to really marry complementary businesses that have complementary strengths, complementary geographies. Both have amazing stables of people which is the core of our success,” AEG Facilities President Bob Newman said. AEG and SMG’s parent company Onex will each have a 50% stake in ASM Global. The merger is expected to be completed later this year.
Newman said SMG is bringing approximately 240 venues it manages worldwide to the merger; AEG oversees 70 facilities. AEG's stable includes the likes of Barclays Center and Prudential Center, while SMG manages the Mercedes-Benz Superdome, State Farm Stadium and Soldier Field, among others. Newman will become ASM’s president and CEO. He previously worked at SMG as a regional VP. SMG President & CEO Wes Westley will take a spot on the new company’s BOD after the merger.
