June 18, 2019
Weil is advising TPG Global in the pending acquisition by TPG Pace Holdings Corp., a SPAC sponsored by an affiliate of TPG Global, of Accel Entertainment, Inc., a gaming-as-a-service provider. The combined company will retain the Accel Entertainment name and will be a publicly listed company with an anticipated initial enterprise value of approximately $884 million. With this transaction, Accel will be the only pure-play listed company to focus on the gaming-as-a-service opportunity. The transaction is expected to close in late third quarter of 2019 and is subject to certain regulatory approvals, including majority approval from TPG Pace’s shareholders.
Weil previously advised TPG Pace Holdings in its business combination with Playa Hotels & Resorts B.V., having an initial enterprise value of approximately $1.75 billion.
The Weil team advising TPG Pace Holdings is led by global Co-Head of Private Equity Douglas Warner and Private Equity partner Christopher Machera, and includes Private Equity associates Damian Petrovic, John Karantonis, Dianna Lee, Joshua Whitford, James Pierre-Louis, Hannah Schmitz (Not Yet Admitted in New York) and Thomas Forman (Not Yet Admitted in New York); Mergers & Acquisitions partner James Griffin; Mergers & Acquisitions associates Claudia Lai, Shanna Dean and Austin Freeman; Capital Markets Head Alexander Lynch; Technology & IP Transactions partner Jeffrey Osterman; Tax partners Marc Silberberg and Mark Schwed; Private Equity Executive Compensation & Benefits Head Michael Nissan; Executive Compensation & Benefits partner Amy Rubin; Public Company Advisory Group Co-Head Howard Dicker and partner Adé Heyliger; Real Estate partner David Herman; Environmental Head Annemargaret Connolly; International Arbitration and Trade partner Ted Posner; Co-Chair of Litigation David Lender; Complex Commercial Litigation partner Randi Singer; Employment Litigation partner Gary Friedman; Securities Litigation partners Miranda Schiller and Robert Carangelo; Capital Markets counsel Barbra Broudy; Environmental counsel Matthew Morton; Antitrust/Competition counsel Vadim Brusser; Capital Markets associates Janeane Ferrari and Natasha Patel; Technology & IP Transactions associate Phillip Grudzina; Tax associates Irene Kim, Elisabeth Allison and Mikaela (Zhiying) Feng; Executive Compensation & Benefits associate Lauren Sawyer (Not Yet Admitted in New York); Real Estate associates Suji Jhaveri, Elizabeth Jaikaran and Daniel Kelly (Not Yet Admitted in New York); Complex Commercial Litigation associates Eliza Cotter and Taylor Dougherty; Employment Litigation associate Justin DiGennaro; White Collar Defense, Regulatory and Investigations associate Timothy Welch; and Antitrust/Competition associate Jonathan Cheng.