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Affinity sells TEG, owner of Ticketek
King & Wood Mallesons has advised Affinity on the sale of TEG.
Naomi Neilson
Source: kwm.com/en/au/people/mark-mcnamara
Firm: King & Wood Mallesons (Affinity Equity Partners and affiliates)
Value: Undisclosed.
Area: Private equity.
Key players: The KWM team was led by partner Mark McNamara and senior associate Anthony Boogert. Specialist support was also provided by partners Tim Sherman and Elizabeth Hundt Russell, special counsel Mandy Tsang and senior associates Victoria Lanyon and Dan Flanagan.
Deal significance: TEG, Australia’s “leading events business” and owner of Ticketek, has been sold to US private equity firm Silver Lake Partners.
TEG was acquired by Affinity in 2016 and proceeded to expand its portfolio throughout the Asia Pacific and more recently the UK.
Commenting on the transaction, Mr McNamara said: “TEG is the leader in live events promotion and ticketing in Australia. The TEG executive team, led by Geoff Jones, has done a remarkable job in growing the business in partnership with Affinity since 2016.
“The sale to Silver Lake represents the next chapter for TEG and its management team and we wish them every success as they continue to grow in Australia and internationally,” he said.
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
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