Cirque Du Soleil has acquired Australian company The Works Entertainment, the company behind one of the most successful tours of 2018 globally, The Illusionists.
Simon Painter and Tim Lawson established the Works Entertainment to create theatrical productions and large-scale attractions. The company has just completed a sell-out tour for the Illusionists across Australia. This acquisition was financed using a portion of a new US$120 million unsecured credit facility made available by the Fonds de Solidarité FTQ and the Caisse de dépôt et placement du Québec.
“As we were reflecting on our company’s future, we were looking for the next big step to fulfill our wildest dreams,” said Simon Painter, creative producer and co-founder of The Works Entertainment. “Joining the team of the company that completely revolutionized circus arts and is now leading the live entertainment industry is a true honor for us. Cirque du Soleil’s global touring expertise as well as large-scale production insights will undeniably fuel our desired future growth in addition to giving us access to new creative resources that we could ever wish for.”
“This transaction is a perfect example of how our group is diversifying through acquisitions, while always investing in our core activities,” said Daniel Lamarre, president and CEO of Cirque du Soleil Entertainment Group. “The Works productions have natural affinities with our own, in that they are high-quality universal live experiences that appeal to different audiences from different cultures around the world without having to adapt the show to each market. Magic, a genre of live entertainment that The Works has successfully mastered through their hugely successful Illusionists franchise, has been performed for centuries and continues to enjoy a steadfast popularity among audiences worldwide. I’m honoured to have their creative minds and theatrical expertise join our ranks.”
Cirque Du Soleil acquired Blue Man Group in 2017 and VStar Entertainment Group in 2018. This is the third major acquisition announcement for the global company.