O’Melveny Advises Future Beat on Sale to On Location Events10월 10, 2018
FOR IMMEDIATE RELEASE
NEW YORK—October 10, 2018—O’Melveny recently represented Future Beat, LLC, a provider of VIP experiences for concerts and other events, in its sale to On Location Events, LLC, the official hospitality partner of the NFL. Financial terms were not disclosed.
Based in Los Angeles, California, Future Beat provides fans with a wide array of unique experiences at concerts and events around the globe. Future Beat works directly with artists to develop exceptional packages that include the best seats, VIP amenities, exclusive and original merchandise, meet and greets, soundchecks, and more. Future Beat’s CEO, David Berger, will be staying on after the sale. On Location Events is a leader in premium experiential hospitality business, with extensive experience in ticketing, curated hospitality, live event production, and travel management in the worlds of sports and entertainment.
The O’Melveny team was led by partner Charles Baker and counsel Marina Richter. The team included associate Chris Anderson on M&A matters, partners Robert Blashek, Robert Fisher, and counsel Billy Abbott on tax matters, partner Wayne Jacobsen and counsel Sloane Ackerman on employment matters, and partner Gary Svirsky on insurance matters.
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The full text of the official press release follows:
On Location Experiences Acquires Future Beat, Industry-Leading Provider of VIP Concert Experiences
NEW YORK—(BUSINESS WIRE)—Oct 10, 2018—On Location Experiences (“On Location”), a premium experiential hospitality business, today announced it has acquired Future Beat, a leading provider of VIP concert experiences for the live music industry. This transaction further extends On Location’s breadth of capabilities to serve the live music industry and artists.
“This is another transformative acquisition for On Location Experiences, as we continue expanding our footprint in the live entertainment space and leveraging our platform for the benefit of our partners and fans. The premium offerings of Future Beat and CID Entertainment are complementary and give our live music division significant scale,” said John Collins, CEO of On Location Experiences. “On Location continues to build upon its established business to create a world class, live events experiential platform in partnership with iconic rightsholders at the most premium levels in sports and entertainment.”
Like CID Entertainment, a division of On Location, Future Beat has grown through its deep-rooted relationships with artists, managers and agencies, and today offers an expansive range of VIP packages and production services to its partners. Both companies have a shared vision to create new opportunities for artists and unforgettable, immersive experiences for music lovers.
David Berger, CEO and Founder of Future Beat, brings over 20 years of experience in the emerging events industry to On Location Experiences. As a pioneer in the live entertainment space, David has produced over 1,200 programs and established VIP divisions at both Signature Networks and Live Nation Entertainment. In 2012, Berger established Future Beat which has grown from a start-up to the number one provider of VIP ticketing and fan concert experiences.
“It’s thrilling to join a team of like-minded individuals at CID, who are also committed to supporting artists by providing their fans outstanding experiences across the globe,” said David Berger. “This is an incredible opportunity for Future Beat, and we are looking forward to growing as part of On Location Experiences.”
“Future Beat and CID share a common goal of connecting passionate fans with the artists and music that they love. We are excited to join forces within the On Location platform and offer our unique model to more artists and music lovers,” said Dan Berkowitz, CEO and Founder of CID Entertainment.
Financial terms of the transaction were not disclosed. On Location Experiences is owned by RedBird Capital Partners, Bruin Sports Capital, 32 Equity and the Carlyle Group.
Lyle Ayes and LionTree Advisors acted as financial advisors to Future Beat and O’Melveny & Myers LLP acted as legal counsel. Paul Hastings LLP acted as legal counsel to On Location.
About On Location Experiences
On Location Experiences is a leader in premium experiential hospitality business, establishing a new industry standard to serve iconic rightsholders with extensive experience in ticketing, curated hospitality, live event production and travel management in the worlds of sports and entertainment. On Location is a partner to over 150 rightsholders including the NFL, NCAA, the PGA of America and the United States Tennis Association, and provides unrivaled official access for both corporate clients and fans looking for immersive experiences at marquee events including the Super Bowl, Pro Bowl, NFL Draft, NCAA Final Four, PGA of America events, numerous College Football Bowl Games and the Tennis Majors. On Location through CID Entertainment also partners with numerous artists and music festivals across genres, including Imagine Dragons, Metallica, Luke Bryan’s Crash My Playa and Electric Daisy Carnival.
On Location's operations include: Anthony Travel, the nation's largest provider of collegiate sports travel management services; CID Entertainment and Future Beat, hospitality leaders in the live music and festival industry; Kreate Inc, a full service live creative concept and production firm with a focus on the customer experience; PrimeSport, a leader in providing direct access to some of the biggest events in sports and entertainment; Steve Furgal's International Tennis Tours, a leader in developing world-class tennis experiences for more than 40 years.
On Location Experiences is a privately held company, owned by RedBird Capital Partners, Bruin Sports Capital, 32 Equity and the Carlyle Group. For more information about On Location Experiences, please visit www.onlocationexp.com.