Silver Lake eyes up potential TEG buy

US private-equity firm Silver Lake Partners is in talks to buy Australian live entertainment powerhouse TEG, according to a report by the Australian Financial Review.

Reports suggest that the California-based buyout specialist is in “late-stage talks” with TEG’s owner Affinity Equity and senior management team, led by CEO Geoff Jones, in a deal expected to surpass AUS$1 billion (US$675 million).

Silver Lake has over $43 billion in combined assets across a portfolio of tech-related businesses such as Alibaba, AMC, Dell Technologie and Tesla. The firm also has stakes in various live entertainment-related enterprises, including in WME parent company Endeavor, the Madison Square Garden Company, UFC and Oak View Group (OVG).

The firm is the not the first potential buyer to register interest in TEG over the past few years. In 2016, CTS Eventim and Chinese conglomerates Fosun and Wanda Group made up a trio of potential buyers in the running to acquire TEG.

Silver Lake has stakes in various live entertainment-related enterprises

TEG, the parent company of one of Australia’s “big two” ticketing companies, Ticketek, made moves into the European market earlier this year, acquiring UK-based promoter the MJR Group.

The company also owns self-service ticketing platform Eventopia, promotion business TEG Live, concert promoter TEG Dainty – formerly Dainty Group –, data firm TEG Analytics and the AEG-Ogden-operated the Qudos Bank Arena (21,000-cap.) in Sydney.

TEG launched a new live family entertainment division, TEG Experiences, earlier this month.

IQ has contacted TEG for comment.

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