ATG theatre group bought by Ari Emanuel events firm Mari

A major shift is underway in the live performance sector as Ambassador Theatre Group is set to be acquired by Mari. The events company, owned by American media tycoon Ari Emanuel, confirmed it has reached a definitive agreement to purchase ATG Entertainment from private equity firm Providence.

While the companies chose not to make the financial details of the takeover public, the Financial Times has previously reported that the transaction could value ATG at around £4.5 billion.

ATG operates approximately 70 venues worldwide, maintaining a heavy presence across both the UK and the US. In the British capital alone, the group controls 10 West End locations. These include the Lyceum, which hosts Disney’s The Lion King, and the Savoy Theatre, which is currently staging Paddington The Musical. Beyond London, the company's regional portfolio reaches deep into communities across the country, encompassing notable venues such as the Liverpool Empire, the Manchester Opera House, the Edinburgh Playhouse, and the King's Theatre in Glasgow.

The acquiring firm, Mari, is backed by Apollo Global Management and RedBird Capital Partners. Last year, Mari acquired Secret Cinema’s parent company, TodayTix. Its existing portfolio already runs a raft of high-profile UK events, including Hyde Park Winter Wonderland, the Big Feastival, and the Hampton Court Palace Festival.

The transaction follows a long period of stewardship under Providence, which has owned the theatre group since the year 2013. Despite the change in corporate ownership, company bosses have confirmed that ATG will continue to operate under its existing brand and leadership.

"I’ve spent my whole career in entertainment, and I started out in theatre. 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."

Ari Emanuel, founder and principal investor of Mari, via Independent

Melanie Smith, the global chief executive of ATG Entertainment, also weighed in on the transition. She noted that the acquiring company understands live entertainment and what matters most to the theatre group, including its venues, the personnel behind them, and its established relationships with artists, producers, and audiences.

"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 thirteen years."

Melanie Smith, global chief executive of ATG Entertainment, via Independent

Smith added that the deal makes the events firm the right home for the organization's next chapter, while also expressing gratitude to Providence for their unwavering support over the past thirteen years.

At a Glance: The ATG and Mari Deal

• Target: ATG Entertainment (Ambassador Theatre Group), operating about 70 venues worldwide.
• Buyer: Mari, an events firm owned by Ari Emanuel and backed by Apollo Global Management and RedBird Capital Partners.
• Previous Owner: Private equity firm Providence, which held the group since the year 2013.
• Key Venues: 10 West End locations including the Lyceum and Savoy Theatre, alongside regional anchors like the Edinburgh Playhouse, King’s Theatre Glasgow, Liverpool Empire, and Manchester Opera House.
• Operational Status: ATG will continue to operate under its existing brand and leadership team.