Onex to acquire venue management company SMG World
Canadian private equity firm Onex Corp has agreed to acquire SMG Holdings Inc (SMG World), a West Conshohocken, Pennsylvania-based manager of convention centres, stadiums, arenas, theatres, performing arts centres and other venues. No financial terms were released for the deal, which is expected to close in early 2018. Founded in 1977, SMG provides management services to nearly 240 venues worldwide. It was bought in 2007 by American Capital, which was bought earlier this year by Ares Capital Corp. Onex is acquiring SMG through Onex Partners IV, which raised US$5.7 billion in 2014. Onex Partners V closed last month at US$7.15 billion.
11 December 2017•3 mins read
