SMG and AEG Facilities are joining together to form a new stand-alone company named ASM Global. The new entity will be headquartered in Los Angeles and will oversee 310 venues and 50,000 employees, instantly making it the largest building operator in the world.
AEG and Onex, SMG’s parent company, will each have a 50% stake in the new company. ASM Global’s portfolio will feature some of the world’s best facilities, including Barclays Center, Prudential Center, Mercedes-Benz Superdome, State Farm Stadium, and Soldier Field.
The merger is expected to close later in 2019.