ASM Global Acquired by Live Experiences Company Legends
November 13, 2023
Premium live experiences company Legends is expanding its geographic reach and services portfolio with the acquisition of ASM Global, which manages a portfolio of more than 350 venues spanning five continents. Financial terms of the transaction were not disclosed.
Announced on Nov. 7, the acquisition will position Legends to meet the expanding needs of sports organizations, entertainment venues, convention centers and attractions globally “while supporting its vision to deliver exceptional live experiences,” according to Legends officials in a statement.
By adding ASM Global’s complementary strategy and management capabilities, Legends will be able to support its clients from project conception and planning to venue development and management, content and event booking, revenue strategy and sales execution, as well as omnichannel merchandising and hospitality services, according to Legends officials.
“Legends and ASM Global are both deeply client-centric and fan-focused and together we will deliver maximum value for our global client roster with even greater support and service options,” said Shervin Mirhashemi, CEO of Legends.
He continued, “Welcoming ASM Global to Legends is a capstone achievement in our 15-year journey toward becoming the world’s trusted partner for connecting people with the brands and communities that matter most to them, and for helping our clients create memorable moments that keep their fans and patrons returning time and again.”
Founded in 2008, Legends provides venue planning and project management, premium sales, sponsorship, hospitality and merchandise services to many of the world’s leading sports, entertainment and attractions brands, including Real Madrid, SoFi Stadium, One World Observatory, Dallas Cowboys, FC Barcelona, University of Notre Dame, New York Yankees and Ryder Cup, as well as leagues and properties such as the NFL, MLB, NASCAR, PGA of America and FIFA World Cup.
The company boasts six divisions operating worldwide – Global Planning, Global Sales, Global Partnerships, Hospitality, Global Merchandise and Global Technology Solutions, and works with clients across business verticals including professional sports, collegiate, attractions, entertainment and leisure.
Leading global investment firm Sixth Street, which has more than $74 billion in assets under management, is the majority investor in Legends in partnership with YGE Holdings, LLC, an affiliate of the New York Yankees, and the Jerry Jones family, owners of the Dallas Cowboys.
ASM Global manages a global venue portfolio that includes leading arenas, stadiums, convention and exhibition centers and performing arts venues, including at ICC Sydney Convention Center, Avicii Arena in Stockholm, OVO Arena Wembley in London, Coca-Cola Arena in Dubai and State Farm Stadium, to name a few.
It also manages a number of major U.S. convention centers, including Moscone Center in San Francisco, the Los Angeles Convention Center and Huntington Place in Detroit, among many others, and boasts a robust corporate social responsibility platform, ASM Global Acts.
“We’re thrilled to join Legends, which shares our client-first approach and advances our goal of offering our partner organizations a truly seamless experience while driving the growth of their businesses,” said Ron Bension, president and CEO of ASM Global.
In recent months, ASM Global has seen increasing competition from Oak View Group (OVG), which manages more than 400 venues worldwide, including convention centers, arenas, stadiums and performing arts centers. OVG manages more than 60 convention centers across North America, including Kay Bailey Hutchison Convention Center Dallas, Miami Beach Convention Center, Atlantic City Convention Center, Cincinnati’s Duke Energy Convention Center and I-X Center in Cleveland.
As part of the transaction, current ASM Global equity holders Onex and AEG will sell their ownership interests, and ASM Global will continue to serve existing and in-development AEG venues.
“Our clients will benefit from Legends’ robust services, innovation, technology and global partnerships which, combined with ASM Global’s venue management and content and event booking expertise, will provide our clients with locally tailored solutions and cutting-edge technologies to achieve outstanding fan experiences and improved venue owner results,” Bension said.
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Partner Voices
Overview:
The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality.
In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way.
“We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.”
Amenities:
The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.
The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience
The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need.
Gold Key Members
The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events.
OCCC Events:
This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.
The Center’s top five events during their 2022-2023 fiscal year included:
AAU Jr. National Volleyball Championships 2023
200,000 Attendees
$257 Million in Economic Impact
MEGACON 2023
160,000 Attendees
$205 Million in Economic Impact
Open Championship Series 2023
69,500 Attendees
$89 Million in Economic Impact
Sunshine Classic 2023
42,000 Attendees
$54 Million in Economic Impact
Premiere Orlando 2023
42,000 Attendees
$108 Million in Economic Impact
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