TEG Purchases Dainty Group, creates TEG-Dainty
The company was founded in the early ‘70s by English-born executive chairman Paul Dainty, who saw a gap in the Australian touring market for major international acts and used his contacts in Britain.
His breakthrough in 1973 was with The Rolling Stones, followed a few years later by Paul McCartney and Wings. It’s estimated that Dainty Group has since sold 50 million tickets with major acts like Prince and U2 and theatrical productions including “Jersey Boys” and “Mamma Mia!”
From its base in Melbourne, Dainty Group staged shows across Australia, New Zealand, Britain, Southeast Asia (he has an office in Singapore) and South Africa. The resultant new company, TEG-Dainty, is expected to announce top-tier acts from music, sports and entertainment. Its first is likely a December 2016 stadium run by Keith Urban with Carrie Underwood, previously announced as a Dainty Group production.
TEG chief executive Geoff Jones, said: “Bringing the Dainty Group Team into the TEG family is the culmination of a very considered process that was focussed on harnessing the best of both companies under the TEG-Dainty banner.
“Paul Dainty has been recognised globally by peers as both influential and innovative in the live entertainment space. We are very excited about the potential for TEG-Dainty, and TEG as a whole, now that we have one of the world’s leading promoters at the heart of our business.”
Dainty added, “Joining the TEG group is a great opportunity for us to be part of a fully integrated entertainment and touring business.”
TEG previously promoted international tours as Nine Lives, as part of media company Nine Network’s Nine Entertainment. It was acquired by Hong Kong-based private equity group Affinity Equity Partners in August 2015 for A$640 million ($478.5 million). Last year it toured One Direction and spread further into the Asian market.
Its companies include Ticketek, TEG[Live], TEG[Analytics], TEG Rewards, Softix, Eventopia and Sydney’s Qudos Bank Arena.
The Dainty Group is the latest of TEG’s acquisitions and partnerships in recent months. TEG’s Geoff Jones explained, “Since our acquisition by Affinity Equity Partners, 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.”