Providence Equity Partners' ATG Entertainment has acquired Madrid-based theatre company SOM Produce, marking its latest expansion in the global theatre market.

The acquisition follows ATG's recent purchase of Celebrity Attractions, a Tulsa-based Broadway touring presenter. While financial terms weren't disclosed, SOM Produce maintains a significant presence in Madrid's theatre scene, selling over 750,000 tickets annually.

SOM Produce manages five major Madrid theatres with a combined capacity of 5,200 seats:

• Nuevo Teatro Alcalá
• Teatro Rialto
• Teatro Nuevo Apolo
• Teatro Calderón
• Teatro Amaya

The company is known for producing Spanish-language versions of popular shows including West Side Story, Mamma Mia!, and the upcoming Wicked.

According to SOM CEO Marcos Cámara, Madrid represents one of the largest theatre markets globally, following only London's West End and Broadway in terms of demand. The partnership with ATG aims to capitalize on Spain's growing appetite for theatre and live performances.

ATG CEO Ted Stimpson views the acquisition as a strategic opportunity to strengthen the company's European operations. Industry expert Lisbeth Barron notes that theatre markets are also showing strong growth in Germany, Australia, and South Korea.

The deal reflects growing investment interest in theatre entertainment. Blackstone recently acquired a minority stake in ATG, which now operates nearly 70 venues worldwide. This follows Providence Equity's $1.4 billion sale of Superstruct Entertainment to KKR, highlighting significant movement in the live entertainment sector.

Despite challenges in the festival industry, with over 170 cancellations last year, the theatre sector continues to attract major investment and demonstrate growth potential in key global markets.

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