AEG Facilities and SMG Complete Merger to Become ASM Global
October 1, 2019
Venue management companies AEG Facilities and SMG have completed their merger to create ASM Global, a new, stand-alone global facility management and venue services company that now operates more than 300 arenas, stadiums, convention centers and performing arts centers across five continents.
The completion of this transaction comes eight months after the companies announced the proposed merger. Onex, of which SMG is a portfolio company, and AEG’s subsidiary are now equal co-owners of ASM, according to ASM officials.
Headquartered in Los Angeles, with key operations based in the Philadelphia suburb of West Conshohocken, ASM has corporate offices in London and Manchester, England; Brisbane, Australia; and Sao Paulo.
Bob Newman, former president of AEG Facilities, has taken the helm as ASM’s president and CEO. Prior to joining AEG Facilities, Newman spent more than 20 years at SMG, last serving as a regional vice president for the company.
“This marks the beginning of an exciting new chapter in our industry and one that will establish a new standard of excellence in managing live experiences,” Newman said.
He added, “Bringing together the combined global expertise of each company with the best content and cutting-edge technologies, we will be able to realize the full potential of the world’s greatest spaces, places and events, create amazing experiences for guests, offer exciting new opportunities to employees and deliver the highest value for all stakeholders.”
Newman said ASM’s deep bench of talent and shared resources will enable the new company to accelerate innovation and capitalize on growing market opportunities.
Meanwhile, Wes Westley, former CEO and president of SMG, has joined ASM’s board of directors and will focus his efforts on key strategic growth initiatives and ensuring a seamless integration of the two companies.
“I am very proud to have had the opportunity to lead such an incredible organization as SMG,” Westley said. “We have a long history of working closely with our public and private partners and are confident in our ability to continue to meet and exceed their expectations.”
He added, “ASM’s focus moving forward will be on providing added value and best-in-class services to its customers. We are well-prepared for a seamless integration process.”
With the completion of this merger, the new ASM Global now boasts 61,000 employees around the globe.
AEG will retain ownership of its real estate holdings outside of this venture, including its entertainment districts and owned venues in Los Angeles; London; Berlin and Hamburg, Germany, as well as its extensive development, sports, music and sponsorship divisions.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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