Last spring, executives at Onex, AEG’s private equity partner in facility management company ASM Global, notified AEG leadership of their plans to trigger a clause in their agreement that allowed Onex to sell its 35% stake in ASM. Under the terms of the deal, AEG could either buy out Onex or match competing offers. AEG officials instead elected to get out too, and over about half a year worked with Onex to identify a buyer for all ASM Global. On Nov. 3, Onex and AEG jointly announced that Legends Hospitality was buying ASM, the country’s leading venue management company. Related
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