SMG Holdings, a portfolio company of American Capital that provides entertainment and conference venue management services, has acquired CGC Events, a provider of catering concessionaire services in Northern England.
CGC provides catering, concessions and hospitality services to horse racing tracks, stadiums, exhibition centers, and heritage sites. CGC has been in business for more than 100 years and is headquartered in Yorkshire, UK (www.cgcevents.co.uk).
“By acquiring CGC’s established food service brand, SMG will further expand its presence in the UK market, combining best practices at CGC and SMG, as well as extend its UK food service business into additional business areas, including racetracks, rugby and soccer stadiums and heritage sites,” said Wes Westley, SMG President and CEO.
SMG, acquired by American Capital in June 2007, is a venue management company providing private management services to owners of public assembly facilities. SMG provides construction and design consulting, pre-opening services, venue management, sales, marketing, event booking and programming. SMG currently manages over 240 venues, including arenas, stadiums, convention centers, exhibition halls, science centers, trade centers, theaters and performing arts centers. SMG’s facilities include stadiums such as the Mercedes-Benz Superdome, home of the New Orleans Saints, and Soldier Field, home of the Chicago Bears; convention centers McCormick Place in Chicago and Moscone Center in San Francisco; and the UK based Manchester Arena, the world’s third largest arena. SMG also offers food and beverage operations through its concessions, catering and special events division, SAVOR. The company was founded in 1977 and is based in the Philadelphia suburb of West Conshohocken (www.smgworld.com).
American Capital (NASDAQ: ACAS) is a publicly traded private equity firm and asset manager that originates, underwrites and manages investments of $10 million to $750 million in lower and middle market private equity, leveraged finance, real estate and structured products. Acquired companies typically have from $5 million to $25 million of EBITDA. Founded in 1986, American Capital has $80 billion in total assets under management and has eight offices in the US, Europe and Asia. The firm is headquartered in Bethesda (www.AmericanCapital.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 2-5-15
