Features
Oak View Group To Merge With Spectra
–
Oak View Group, the global venue development, advisory, and investment company for the sports and live entertainment industry, and Spectra, one of the industry’s leading venue management and hospitality providers, today announced an agreement under which the two companies will merge.
Spectra, based out of Philadelphia, provides venue management, food services & hospitality, and partnerships?services for 330? clients across North America and the globe, including stadiums, arenas, convention centers, performing arts centers, fairgrounds, and casinos.
“This is an exciting development for Spectra and an important step in our journey to provide unparalleled services to our clients along with exciting growth opportunities for our team members as part of a larger, more diverse, added Dave Scott, CEO of Spectra.
“This merger accelerates our existing strategy and will lead to significant opportunities to cross-sell food, beverage and sponsorship services across our combined client base. I look forward to working with Tim, Irving and the OVG team to enhance the future of live events for our valued clients.”
Completion of the deal is expected in the fourth quarter of this year, and subject to regulatory approvals and closing conditions.
OVG will remain headquartered in Los Angeles while Spectra will remain in Philadelphia.
UBS Investment Bank acted as financial advisor and Kirkland & Ellis LLP acted as legal advisor to Oak View Group. Moelis & Company LLC acted as exclusive financial advisor and Davis Polk & Wardwell LLP acted as legal advisor to Spectra.