TPG SPAC to merge with Clairvest-backed Accel Entertainment
Clairvest Group said portfolio company Accel Entertainment Inc, a Bolingbrook, Illinois-based video gaming terminal operator, has agreed to merge with TPG Pace Holdings Corp, a special purpose acquisition company (SPAC). In a separate release, TPG Pace said the combined business, which will retain the name Accel, is expected to have an initial value of about US$884 million. Clairvest, a Canadian mid-market private equity firm, said it has not consented to the transaction and is considering options. As reported by PE Hub Canada, Clairvest acquired a minority stake in Accel in 2016, investing US$32.5 million. TPG Pace is sponsored by an affiliate of U.S. private equity firm TPG.
14 June 2019•2 mins read
