TEG expands into Europe through acquisition of The MJR Group
Australian entertainment giant TEG is accelerating its expansion into the U.K. and Europe through the acquisition of live specialist The MJR Group.
Based in Bristol, England, and with offices in Sydney and Port Macquarie, The MJR Group produces more than 2,000 shows each year, including dates for Sia, 50 Cent, and Hans Zimmer, and has operated and promoted tours across Dubai, South Africa, Japan and China.
The group’s four-strong collection of venues includes Tramshed in Cardiff and Birmingham’s Digbeth Arena and The Mill. MJR also own the popular club brand Propaganda and has stakes in six other venues including The Warehouse in Leeds.
Financial terms of the deal weren’t disclosed.
TEG CEO Geoff Jones says MJR is a “great fit” for TEG, recognised as Asia Pacific’s largest diversified entertainment company, and the development goes some way toward the Australian business realising its global ambitions.
“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,” said Jones in a statement.
The MJR Group, he notes, “has strong management talent and a clever live entertainment model to which TEG can add ticketing, analytics and digital capability… (and) brings significant additions to our venue portfolio.”
TEG’s portfolio is already an impressive one which spans ticketing, live entertainment and technology. Its interests include Ticketek, TEG Live, Qudos Bank Arena, Eventopia, and TEG Dainty, Paul Dainty’s concert and events promotion company which it acquired in 2016.
Following the acquisition, The MJR Group’s three partners, Richard Buck (Group CEO and Head of U.K.), Scott Mesiti (Head of Australia & New Zealand) and Dan Ickowitz-Seidler (Head of U.K. Venues and Propaganda), will remain with the TEG group.
Buck comments, “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, adds Buck, noting “this synergy allows both parties even more leverage by combining each other’s tech expertise and insights to best connect with live entertainment fans.”
Going forward, The MJR Group’s operations will be incorporated into TEG’s global activities, with its U.K. operations to be renamed TEG UK.
The MJR Group’s international touring operation MJR Presents is producing this October’s four-date Bring That Beat Back tour of Australasia, featuring Flavor Flav, Bobby Brown, Bell Biv Devoe, Montell Jordan and Blu Cantrell.
“We’re really excited to join the TEG family and looking forward to the next chapter,” enthuses Scott Mesiti, MJR Australia Director. “We have very similar synergies in our digital approach to the promoting business and we’re particularly excited about the infrastructure TEG has at high management level, which will provide MJR with the right support for our continual growth.”
This article originally appeared on The Industry Observer, which is now part of The Music Network.