Providence Buying Seat at Ambassador Theatre Group
October 22, 2013
Providence Equity Partners has agreed to acquire a majority of the Ambassador Theatre Group in a deal that reportedly values the company at £350 million ($565 million). ATG is a U.K.-based theater company that operates 40 venues in Britain and on Broadway. Exponent Private Equity is selling its majority position in the company but retaining a minority stake as part of the deal. Exponent had owned the company since 2009 when the firm acquired Live Nation's U.K. theaters for £134 million ($216 million).