TPG-backed Cirque du Soleil buys The Works Entertainment
Cirque du Soleil Entertainment Group has acquired The Works Entertainment, a Los Angeles-based creative and production company known for The Illusionists magic franchise and other variety shows. Terms weren't disclosed. The sellers were Simon Painter, Tim Lawson and Kilburn Live. The deal was funded using a portion of a US$120 million ($158 million) unsecured credit facility provided by Fonds de Solidarité FTQ and Caisse de dépôt et placement du Québec (CDPQ). The acquisition is the third by Cirque, a Montréal-based live performance company, since 2017. Cirque was acquired in 2015 by a group led by TPG Capital and joined by Fosun Capital Group and CDPQ.
6 February 2019•4 mins read
