Mari lines up deal for West End theatre owner ATG

Events firm Mari is set to snap up West End theatre owner ATG Entertainment.

The business says it has entered into a “definitive agreement” to buy the operator from private equity firm Providence.

The companies did not disclose the financial details of the deal, but it is understood the move could value ATG at about £4.5 billion.

Bosses say ATG will continue to operate under its existing brand and leadership.

ATG, which has been owned by Providence since 2013, runs ten venues in London’s West End, including the Lyceum and the Savoy Theatre, and oversees a raft of regional theatres, such as Liverpool Empire, Edinburgh Playhouse and Sunderland Empire.

Mari, which is backed by Apollo Global Management and RedBird Capital Partners, snapped up Secret Cinema’s parent company TodayTix last year.

It runs a host of UK events including Hyde Park Winter Wonderland and Hampton Court Palace Festival.

Ari Emanuel, Mari founder and principal investor, said: “I’ve seen the industry reinvent itself many times, but live has only grown more powerful; nothing connects great talent with audiences more directly.

“ATG has built one of the world’s great theatre businesses around that experience.

“This is a long-term bet on where live goes next.”

Melanie Smith, ATG Entertainment global chief executive, added: “Mari understands live entertainment and what matters most to ATG: our theatres, the people behind them and the relationships we have built with producers, artists and audiences.

“That makes Mari the right home for our next chapter.

“We look forward to this new era and thank Providence for their unwavering support over the past 13 years.”

ATG Entertainment’s venue portfolio also includes Glasgow’s King’s Theatre, Manchester Opera House, Stockton Globe, Swansea Building Society Arena and York’s Grand Opera House.

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