Business News Deals Live Business

Dainty Group acquired by Australian live firm TEG

By | Published on Tuesday 5 July 2016

Dainty Group

Australian live music company TEG has acquired one of the country’s biggest concert promoters, Dainty Group. The latter will now become a division of its new parent, renamed TEG-Dainty. The deal brings the promoter under the same roof as ticketing firm Ticketek, Sydney venue the Qudos Bank Arena, and various other companies.

“Joining the TEG group is a great opportunity for us to be part of a fully integrated entertainment and touring business”, said founder Paul Dainty in a statement.

Since launching the company in the 1970s, Dainty has worked with artists including The Rolling Stones, Michael Jackson, Britney Spears, Paul McCartney, Eminem, Guns N Roses and more, both in Australia and around the world.

TEG CEO Geoff Jones added: “We have been able to take a fresh look at the integrated entertainment market in Australia and the Asia Pacific region, and we have seen some great openings for TEG and our partner companies. The acquisition of the Dainty Group is one of our most critical acquisitions to date and we look forward to harnessing the knowledge, experience and expertise that Paul and his team will bring to our whole business”.

Speaking to The Australian, Dainty added: “[Touring] deals are just so big now and I think being part of a large combination we will see one and one equalling three. As we bring the world’s hottest acts under one roof with TEG-Dainty, hopefully we can do more top-tier tours, make them more money and grow even further from where we are”.

“When I started out artists derived most of their income from records”, he continued. “Touring was still a very profitable business back then but the tours were designed to drive more record sales. The bottom line is that the change in the market dynamics have helped the touring business”.

Formerly known as Nine Live, this is TEG’s latest acquisition since being acquired itself by private equity firm Affinity Equity Partners from Nine Entertainment Co. In April it purchased Life Like Touring and The Entertainment Store, which promote children’s shows.