Australia’s TEG expands into Europe, buys MJR Group
Sydney-based Asia-Pacific promoter, ticketing and data analytics TEG makes a move into Europe – and a “significant step towards becoming a global live entertainment powerhouse” – with the announcement this morning that it has taken over UK promoter and venue operator MJR Group.
MJR puts on 2000 shows a year and runs six venues including the club brand Propaganda.
It also has an Australian presence. Its international touring division operates out of Sydney and Port Macquarie.
Its head of Australia and New Zealand, Scott Mesiti, will remain with the TEG Group, as will group CEO and head of UK Richard Buck. So will Dan Ickowitz-Seidler, head of UK venues and Propaganda.
TEG CEO Geoff Jones says the buy-out, gives TEG “a strong presence in the vibrant UK and European markets, and demonstrates its focus and commitment to the international expansion of its pioneering integrated live entertainment model.”
“TEG is already Asia-Pacific’s leading ticketing, live entertainment and technology business, and this acquisition marks a significant step towards TEG becoming a global live entertainment powerhouse.
“The MJR Group is a great fit for TEG. It has strong management talent and a clever live entertainment model to which TEG can add ticketing, analytics and digital capability.
“The MJR Group also brings significant additions to our venue portfolio.”
Buck adds: “We are very excited by this venture and the enhanced business opportunities brought by TEG.
“We’ve worked hard to scale the business over the last five years and this next step in our evolution will further strengthen our position in the market.
“Both companies are digitally focused and this synergy allows both parties even more leverage by combining each other’s tech expertise and insights to best connect with live entertainment fans.”
Terms of the deal are not available but is understood to be a seven-figure sum.
A rival operator told TMN, “Geoff is a very tough negotiator.”
TEG organises over 200 events a year, through TEG Dainty and TEG Live, and issues more than 28 million tickets annually with its Ticketek ticketing agency.
It is a major player in data science and analytics, digital marketing and customer research.
The Asian division is based in Singapore to oversee operations in Malaysia, Hong Kong, Macau and the Philippines.