PE Deals

Providence Equity-backed ATG to merge with Jujamcyn Theaters  

The transaction is expected to be completed in 2023, subject to relevant regulatory nods.

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  • Providence Equity invested in the firm in 2013
  • Jordan Roth will be the largest individual shareholder of the combined group
  • Providence is a private equity firm focused on media, communications, education and information investments

Providence Equity Partners-backed Ambassador Theatre Group (ATG) has agreed to merge operations with Jujamcyn Theaters. No financial details of the transaction were disclosed.

TEG also has a minority investment in ATG. Silver Lake has a majority stake in TEG and Mercury Capital holds a minority stake. Silver Lake is a private equity firm based in Menlo Park, US and Mercury Capital is a Sydney-based private equity firm.

Providence invested in ATG in 2013.

ATG and Jujamcyn’s integration will offer producing partners an increasingly varied venue portfolio, according to a release.

The transaction is likely to be completed in 2023, subject to relevant regulatory nods and customary closing conditions.

Jujamcyn president Jordan Roth will be the largest individual shareholder of the combined group and will become the merged firm’s creative director. Mark Cornell will serve as CEO.

“Our combined expertise and capabilities will enable producers and other creatives to bring their visions to life and create the unimaginable for our audiences,” said Cornell. “We are excited by the further development opportunities for our valued employees.”

ATG is a theatre organisation headquartered in London and Woking. The firm has offices in New York and Dusseldorf. The firm owns and operates 58 venues across the UK, the US, and Germany.

Jujamcyn is a theatrical producing and theatre-ownership company based in New York. The firm’s five Broadway theatres are the St James, Al Hirschfeld, August Wilson, Eugene O’Neill, and Walter Kerr.

Providence is a private equity firm focused on media, communications, education, and information investments. The firm manages funds with $45 billion in assets and has invested in more than 130 companies globally since its inception. It is headquartered in Providence, US and has offices in New York, London, Hong Kong, Beijing, and New Delhi.

TEG is a global, integrated live entertainment, ticketing and technology company based in Sydney, New South Wales.