Michael Cassel Group, one of the world’s leading theatre producers, has today announced it has accepted a strategic investment from Amplify, a global live entertainment and content holding company.
Michael Cassel Group, as an independent company, will sit alongside TEG in Amplify, which was formed by Silver Lake and minority investor Mercury Capital to acquire TEG in November 2019. TEG is a global, integrated live entertainment, ticketing and technology company and Silver Lake is the global leader in technology investing. Michael Cassel will retain significant ongoing equity ownership and will continue to run Michael Cassel Group as an independent entity.
As a result of the investment, Michael Cassel Group will pursue significant expansion within the theatrical live entertainment vertical on a global basis. 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. 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,” said Michael Cassel, CEO/Producer. “TEG’s live entertainment, ticketing, promotional platform and data expertise is second to none in the region,” he added. “The combination of TEG and Silver Lake in Amplify will help us to further accelerate our growth organically and via acquisitions.”
Geoff Jones, Chief Executive Officer 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.”
Stephen Evans, Managing Director at Silver Lake, said: “We believe strongly in the long term power and value of high quality content, and together with our partners at TEG and Mercury Capital, we are delighted to partner with Michael Cassel and his team as we set out to build one of the world’s leading theatre organisations, alongside TEG’s ticketing, content and data expertise.”