Herbert Smith Freehills’ private equity and venture capital team has advised Michael Cassel Group on a strategic investment in its business by Amplify, a global live entertainment and content holding company.
Amplify was formed in 2019 by leading global technology investment firm Silver Lake and minority investor Mercury Capital, and also holds TEG, a global, integrated live entertainment, ticketing and technology company.
With the investment, Michael Cassel Group intends to pursue significant expansion within the theatrical live entertainment industry. The transaction is subject to regulatory approval.
The Herbert Smith Freehills team was led by partner and Head of Venture Capital Peter Dunne, consultant Elizabeth Henderson, and solicitors Lisa Alderson and Alexandra Thams.
Peter Dunne said, “This new partnership is testament to the global standing of Michael Cassel Group and Michael Cassel himself, and to the quality and success of the business he has built. It’s been a pleasure to work with Michael and his team on this transaction and to help Michael Cassel Group achieve this incredible result — made even more impressive by the challenges of the current environment. We look forward to the seeing the business grow with this investment and the much-needed enjoyment that it will bring to audiences around the world.”
This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital raisings and founder liquidity transactions. Other recent examples include:
- the investment in GreenCollar by KKR, the first in Australia for its US$1.3 billion Global Impact Fund;
- SafetyCulture on its A$60.5 million Series C capital raise and secondary sale;
- Culture Amp on its A$120 million Series E capital raise; and
- capital raises for Verteva, Sonder, Gilmour Space, Kasada, Nura, Roborigger, Reejig, Elenium Automation, Campaign Monitor, Tyro Payments, Different, Shore Trade, Buckitdream and others.