ATG Entertainment has announced that it has acquired SOM Produce, a preeminent theatre producer, operator and distributor in Spain. Financial terms were not disclosed.
SOM Produce is a leading theatre producer and operator headquartered in Madrid and, with more than 750,000 tickets sold annually, is one of the largest global producers and distributors of musicals and plays in the Spanish language. It manages five marquee theatres in the centre of Madrid – Nuevo Teatro Alcalá, Teatro Rialto, Teatro Nuevo Apolo, Teatro Calderón, and Teatro Amaya – and has produced over 20 iconic shows including Matilda, Mamma Mia!, Billy Elliot, The Book of Mormon, West Side Story, Grease, Chicago, Cabaret and, Priscilla Queen of the Desert. The company also produces and tours a range of celebrated theatre titles throughout Spain.
Ted Stimpson CEO of ATG, said: “This is an exciting opportunity to further build ATG’s European operations and SOM Produce represents a great cultural fit; we are both very creative businesses, deeply passionate about showcasing great content in landmark venues. Madrid is becoming a global hub for theatre productions, and we have long admired what SOM Produce has achieved. We are delighted to be able to bring them into the ATG family and explore continued opportunities for ATG in a thriving new market.”
Marcos Cámara, CEO, Partner, & Executive Producer, SOM Produce, said: “This is an exciting new chapter for SOM Produce and we look forward to bringing more quality iconic Broadway productions and live entertainment to audiences in Spain. Madrid only follows the West End and Broadway in terms of global theatre demand as the appetite for theatre and live performances continues to grow throughout Spain. This partnership with ATG will help us capture significant opportunities to satisfy this increased demand going forward. We are so proud of what SOM has become, and we are thankful to our employees, producer partners and loyal customers who make us who we are today.”
ATG is majority owned by Providence Equity Partners.
Andrew Tisdale, Senior Managing Director and Co-Head of Europe, and Maria João Borges, Senior Vice President, at Providence Equity Partners, said: “Providence’s continued support of ATG’s growth reflects our strong conviction in the value of live entertainment and our deep experience in the sector. ATG is a leading global entertainment company with a proven ability to enter new markets and continue to grow its geographical footprint. The further strengthening of ATG’s distribution network into Spain, namely Madrid – the third-largest theatre market worldwide – offers increased strategic and creative value to producers and content creators who, through partnering with ATG, can bring world-class theatre experiences to a whole new audience.”
Providence Equity Partners and ATG were advised by Uría Menéndez and DLA Piper as legal advisors and Deloitte as financial advisor. Barron International Group acted as exclusive financial advisor to SOM Produce and Deloitte as legal advisor.
