Platforms:

Pace Holdings

TPG 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 June 2017, TPG Pace Holdings filed for an IPO, raising more than $450 million that month.

On June 13, 2019, TPG Pace Holdings entered a transaction agreement with the shareholders of Accel Entertainment, a leading gaming as a service provider and the country's largest video gaming operator on an EBITDA basis. Following the close of the transaction, which is expected to occur in September 2019 after the completion of the shareholder vote, the combined company will retain the Accel name and will be a publicly traded company with an enterprise value of $884 million. With this transaction Accel will be the only pure-play listed company to focus on the gaming-as-a-service opportunity. This transaction will expedite Accel’s growth strategy tied to the increasing adoption of video gaming across the country.  As a public company, Accel is expected to drive shareholder returns through its significant, highly visible earnings growth, strong free cash flow and attractive valuation relative to peers. 

Contact TPG Pace Holdings: +1 (212) 405-8458 | pace@tpg.com