ATG Entertainment, the live entertainment company that has produced shows such as “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 Theater Group, a foothold in the growing Spanish market, led by Madrid, the world’s third largest theater market.
Financial terms of the deal, which was revealed Wednesday, were not disclosed. ATG owns and operates 64 live event venues in the UK, US and Germany, including theatres, music arenas, cinemas and conference spaces, with an audience of more than 18 million people each year, and is owned by private equity firm Providence. Equity owns the majority. partner. ATG also owns the ticketing platform ATGtickets.com, which processes more than 18 million tickets each year.
“Through its in-house production company, ATG works closely with top producers and promoters to produce productions such as Cabaret at the Kit Kat Club, Stranger Things: The First Shadow, Moulin Rouge, The Lion King, Harry Potter, Cursed Child, and more. ” and “Starlight Express,” as well as popular music and comedy shows,” the company says on its website.
SOM, headquartered in Madrid, “sales more than 750,000 tickets annually and is one of the world’s largest producers and distributors of Spanish-language musicals and plays,” the companies said. It manages five theaters in central Madrid: Teatro Nuevo Alcalá, Teatro Rialto, Teatro Nuevo Apollo, Teatro Calderon, and Teatro Amaya. The company has produced films such as Matilda, Mamma Mia!, Billy Elliot, The Book of Mormon, West Side Story, Grease, Chicago, Cabaret, and Priscilla Queen of the Desert. I have been producing the program. The company also produces and tours a variety of shows throughout Spain.
“This is an exciting opportunity to further strengthen ATG’s European business and SOM Produce is a great cultural fit. We have a deep passion for showcasing content,” said ATG CEO Ted Stimpson. “Madrid is becoming a global hub for theatrical productions and we have long admired what SOM Produce has achieved.”
Marcos Camara, CEO, Partner and Executive Producer of SOM said: “This is an exciting new chapter for SOM Produce, and we look forward to bringing even more high-quality, iconic Broadway productions and live entertainment to Spanish audiences. Demand for theater and live performances continues to grow across Spain. This makes Madrid second only to the West End and Broadway in terms of global demand for theater.
Providence executives also touted the deal. “Providence’s continued support of ATG’s growth reflects our strong belief in the value of live entertainment and our deep experience in this sector,” said Andrew, Senior Managing Director and Co-Head of Europe. Tisdale and Senior Vice President Maria João Borges said. “The further strengthening of ATG’s distribution network into Spain, the world’s third-largest theatrical market, Madrid, is a strategic move for producers and content creators who, through partnership with ATG, can bring a world-class theatrical experience across the board.” and provide creative value to new audiences. ”
Baron International Group served as exclusive financial advisor to SOM Produce, and Deloitte served as legal advisor.
