TEG confirms Silver Lake acquisition
Sydney-based TEG has swapped one PE firm for another, joining fellow acronym fans MSG, OVG and WME in becoming a Silver Lake Partners investment
News By IQ | 4 October 2019
Confirming rumours that surfaced last week, private-equity firm Silver Lake Partners announced this morning (4 October) Australian time it has acquired Asia-Pacific live entertainment giant TEG.
Silicon Valley-based Silver Lake, which also holds stakes in Madison Square Garden Company, Oak View Group and WME/UFC parent company Endeavor, acquires TEG from Affinity Equity Partners, another investment firm, which bought TEG in 2015.
Financial terms of the transaction were not disclosed, though reports in the Australian financial press value the deal at around A$1 billion (US$675 million).
Sydney-based TEG’s live entertainment platform combines ticketing and event promotion, venue management, data analytics and marketing services. The company organises over 100 events annually through TEG Live and TEG Dainty, which have promoted shows including Hugh Jackman, Guns N’ Roses,…
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