“Live entertainment company ATG Entertainment, which has staged the likes of Harry Potter and the Cursed Child, The Lion King, and Stranger Things: The First Shadow, has acquired Spanish theater producer and operator SOM Produce. The deal gives the company, formerly known as Ambassador Theatre Group, a foothold in the growing market of Spain, led”, — write: www.hollywoodreporter.com
The deal gives the company, formerly known as Ambassador Theatre Group, a foothold in the growing market of Spain, led by Madrid, the third-largest theater market worldwide.
Financial terms of the transaction, unveiled on Wednesday, were not disclosed. ATG, which owns and operates 64 live event venues, including theaters, music arenas, cinemas, and conference spaces in the U.K., the U.S. and Germany with more than 18 million audience members each year, is majority-owned by private equity firm Providence Equity Partners. ATG also owns ticketing platform ATGtickets.com, which processes more than 18 million tickets each year
“Through our in-house production companies and working closely with top producers and promoters ATG presents over 15,000 live performances annually, including Cabaret at the Kit Kat Club, Stranger Things: The First Shadow, Moulin Rouge, The Lion King, Harry Potter and the Cursed Child, and Starlight Express as well as popular music and comedy shows,” the company says on its website.
SOM, headquartered in Madrid, “with more than 750,000 tickets sold annually is one of the largest global producers and distributors of musicals and plays in the Spanish language,” the companies said. It manages five theaters in the center of Madrid – Nuevo Teatro Alcalá, Teatro Rialto, Teatro Nuevo Apolo, Teatro Calderón, and Teatro Amaya. The firm has produced such shows as Matilda, Mamma Mia!, Billy Elliot, The Book of Mormon, West Side Story, Grease, Chicago, Cabaret, and Priscilla Queen of the Desert. The company also produces and tours a range of shows throughout Spain.
“This is an exciting opportunity to further build ATG’s European operations and SOM Produce represents a great cultural fit; we are both very creative businesses, deeply passionate about showcasing great content in landmark venues,” said ATG CEO Ted Stimpson. “Madrid is becoming a global hub for theater productions, and we have long admired what SOM Produce has achieved.”
Said Marcos Cámara, CEO, partner, and executive producer at SOM: “This is an exciting new chapter for SOM Produce and we look forward to bringing more quality iconic Broadway productions and live entertainment to audiences in Spain. Madrid only follows the West End and Broadway in terms of global theater demand as the appetite for theater and live performances continues to grow throughout Spain.”
Providence executives also touted the deal. “Providence’s continued support of ATG’s growth reflects our strong conviction in the value of live entertainment and our deep experience in the sector,” said Andrew Tisdale, senior managing director and co-head of Europe, and senior vp Maria João Borges. “The further strengthening of ATG’s distribution network into Spain, namely Madrid – the third-largest theater market worldwide – offers increased strategic and creative value to producers and content creators who, through partnering with ATG, can bring world-class theatre experiences to a whole new audience.”