The Entertainment and Education Group was established in 2017, when Quadrant Private Equity and the Steinberg family joined forces. TEEG acquired the Steinberg family's key asset Timezone (part of their Leisure & Allied Industries business) for an undisclosed sum and in December 2017 announced plans to acquire the ten-pin bowling and entertainment division of Ardent Leisure for $160 million. Although TEEG is based in Singapore and operates leisure centres throughtout Australia and Asia, the Perth-based Steinberg's hold a 50 per cent stake.
