TEG owner ‘to launch sales process in April’

The owner of TEG is reportedly planning to launch a sales process for the Australasian live entertainment powerhouse this April.

Silicon Valley-based private-equity firm Silver Lake acquired TEG from Affinity Equity Partners, another investment company, in 2019.

According to a report in The Australian, the possible sale is expected to be led by investment bank Jefferies.

“It is logical for private-equity firms to be the most likely buyers,” reads the report, as cited by The Music Network, noting there was the opportunity “for a strategy player to be competitive in an auction”.

Insiders told the Australian Financial Review last month that Jefferies’ bankers were “readying big global buyout funds for the upcoming auction, pitching it as a unique business worldwide”.

TEG operates out of seven countries worldwide with offices in Australia, New Zealand, south-east Asia and the UK

Concert promotion, ticketing and technology firm TEG operates out of seven countries worldwide with offices in Australia, New Zealand, south-east Asia and the UK.

The group’s portfolio includes TEG Live, TEG Sport, TEG Experiences, TEG Dainty, SXSW Sydney, TEG MJR, TEG Van Egmond, TEG Rockefeller, Qudos Bank Arena, Ticketek, Softix, TicketCharge, TicketWorld, Ticketek Singapore and Ovation.

Last year, it announced the formation of TEG Europe, consolidating the company’s UK-based operations into a single entity, with former Live Nation and AEG Presents UK executive Toby Leighton-Pope hired as MD, while in 2021 it welcomed Australasian touring festival Laneway and promoter Handsome Tours to the TEG family.

Based out of London and Bristol, TEG Europe comprises five different divisions: TEG Live Europe, TEG Venues, Propaganda, Ticketek and Ovation.

TEG Live Europe includes the former TEG MJR touring business

TEG Live Europe includes the former TEG MJR touring business, which has worked with artists including Snoop Dogg, Sia, Hans Zimmer, 50 Cent, Tom Jones, and Culture Club.

TEG Venues includes 10 owned, operated, co-promoted, and programmed venues throughout the UK, including Tramshed (cap. 1,000) in Cardiff, XOYO (800) in London and The Mill (1,000) in Birmingham.

Propaganda, the UK’s leading indie rock & roll nightclub brand, includes fifteen weekly events across the country, as well as promoted events in the US, Australia, Brazil and Ibiza.

Ticketek, which has 40+ years’ experience ticketing major international events and partnering with some of the world’s best venues, was introduced into the UK in 2020 and already works with some of the country’s premier venues.

And Ovation, TEG’s data science and analytics business, provides sports organisations, venues, promoters, content creators, media and tech partners with analytics, data science, research, personalisation, and advanced digital marketing.

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