TEG parent company Silver Lake, and live entertainment firm Amplify, have acquired a stake in leading theatre producer, Michael Cassel Group.
The move will allow Cassel to “accelerate” international expansion, development and investment within the theatrical live entertainment vertical.
Financial terms have not been revealed and the deal is subject to regulatory approval.
“Since inception, we’ve built a company with an enviable international reputation and a very strong and creative culture,” said Michael Cassel (pictured), chief executive and producer of the firm.
He continued: “I’m excited by the commitment and enthusiasm of our new partners TEG and Silver Lake and the synergies that they bring to Amplify. Together with my team, our goal is to build a global, diversified theatrical live entertainment company focused on producing and developing quality, premium content; expanding international touring and exploiting opportunities in emerging markets; and securing a vertically integrated model focused on theatre acquisitions.
“TEG’s live entertainment, ticketing, promotional platform and data expertise is second to none in the region. The combination of TEG and Silver Lake in Amplify will help us to further accelerate our growth organically and via acquisitions.”
Silver Lake and minority investor Mercury Capital set up Amplify to acquire Sydney-based tour promoter, ticketing service and data analytics firm TEG, which runs Ticketek, in November 2019.
Geoff Jones, chief executive of TEG, said: “We welcome Michael Cassel and his team to the Amplify family. TEG and our partners at Silver Lake formed Amplify to be a global live entertainment and content holding company.
“Together we have identified that there is a clear and compelling opportunity to build one of the leading global theatrical organisations within Amplify and we believe the Michael Cassel Group, through its global reputation, experience and relationships, is the right company to lead that charge, and we are excited to be able to help unlock its full potential.”
Image: Michael Cassel Group / Janie Barrett