Pace Holdings is a special purpose acquisition company formed by TPG for the purpose of entering into a merger, stock purchase or similar business combination with one or more businesses. The company’s strategy is to identify and acquire businesses that are better suited to generate strong returns in a public market environment while benefitting from TPG’s operational expertise. In August 2015, Pace Holdings filed for an IPO, raising more than $450 million that month.
On December 13, 2016, Pace Holdings entered a merger agreement with Playa Hotels & Resorts B.V., a leading owner, operator, and developer of premier all-inclusive resorts on prime beachfront properties in the Dominican Republic, Jamaica, and Mexico. The combined company will retain the Playa name and will be a publicly listed company with an anticipated initial enterprise value of approximately $1.75 billion. This transaction will be a catalyst to accelerate Playa’s growth strategy by providing $500 million of additional capital and access to the public markets to strengthen its balance sheet, pursue acquisitions, and enhance distribution—all furthering the company’s leading position in an emerging, high-growth sector.
Contact Pace Holdings:
+1 212 405 8458